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Singapore markets closed

  • Straits Times Index

    3,280.10
    -7.65 (-0.23%)
     

  • Nikkei

    37,934.76
    +306.28 (+0.81%)
     

  • Hang Seng

    17,651.15
    +366.61 (+2.12%)
     

  • FTSE 100

    8,139.76
    +60.90 (+0.75%)
     

  • Bitcoin USD

    63,660.06
    +215.66 (+0.34%)
     

  • CMC Crypto 200

    1,330.32
    -66.21 (-4.75%)
     

  • S&P 500

    5,099.19
    +50.77 (+1.01%)
     

  • Dow

    38,177.62
    +91.82 (+0.24%)
     

  • Nasdaq

    15,927.65
    +315.89 (+2.02%)
     

  • Gold

    2,345.40
    +2.90 (+0.12%)
     

  • Crude Oil

    83.69
    +0.12 (+0.14%)
     

  • 10-Yr Bond

    4.6630
    -0.0430 (-0.91%)
     

  • FTSE Bursa Malaysia

    1,575.16
    +5.91 (+0.38%)
     

  • Jakarta Composite Index

    7,036.08
    -119.22 (-1.67%)
     

  • PSE Index

    6,628.75
    +53.87 (+0.82%)
     

GOLD IS TANKING

Matthew Boesler

Gold is continuing its slide today as futures trade down nearly 2 percent.

The chart is pretty ugly:

These levels mark the lowest price gold has traded for since August.

In a note to clients this morning, Deutsche Bank commodities analysts wrote:

The gold market remains one without a clear catalyst, and in fact we would expect that prices could remain below the USD1,700/oz level while negotiations over the US fiscal cliff continue and the outlook remains uncertain. Once clear, we would expect that gold could move higher, likely towards the upper band of its recent range, USD1,750/oz.

Meanwhile, stocks are getting a nice lift.

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SEE ALSO: BofA: Here's The Lowest Gold Prices Will Go >



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