Aug. 25, 2011, 1:23 p.m. EDT
Gold trades higher as nervousness returns
Metal turns positive after losing nearly $200 from Monday’s record
By Claudia Assis and Polya Lesova, MarketWatch
SAN FRANCISCO (MarketWatch) — Gold futures turned modestly positive Thursday as lower equities and a swirl of rumors Germany might be next to get a sovereign-debt downgrade contributed to renewed nervousness in the markets.
Gold had spent most of the trading day extending losses, hit by a margin requirement increase and as investors lost heart economic stimulus is forthcoming.
Gold for December delivery added $6.80, or 0.4%, to $1,764.70 an ounce on the Comex division of the New York Mercantile Exchange.
It had traded as low as $1,705.40 an ounce — some $187 below Monday’s record settlement of $1,891.90 an ounce.
Markets were abuzz with talks of a potential credit downgrade for Germany. All three of the major rating agencies — Moody’s Standard & Poor’s and Fitch — reportedly affirmed their top-notch ratings for Europe’s largest economy.
Full story: http://www.marketwatch.com/story/gold-declines-over-uncertainty-over-fed-2011-08-25?link=MW_home_latest_news
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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