CONTACT US

For any general inquiries, please fill in the following contact form:

Our websites never use cookies or other technologies such as pixel tags and web beacons. We only retain personal information when the contact section of our websites is filled. To proceed and get in touch with us through this format please read our Terms & Conditions, updated to be in line with the provisions of the GDPR, and tick this box to consent in us retaining the above information for contacting purposes only.

SUBMIT

Gold price drops as investors hunt for cash to cover market losses

Gold price drops as investors hunt for cash to cover market losses

Prices of precious metals are falling on lack of investor confidence that stimulus measures taken by the world’s central banks are enough to steady the markets.

On Sunday, the US Federal Reserve slashed rates to near zero and promised to pump $700 billion into the economy. Other central banks have made similar moves to try avoid market turmoil.

Gold has extended last week’s losses as the price fell below $1,464 an ounce on Monday. The yellow metal has seen the biggest drop in price since 1983. Although traditionally a safe haven, investors are selling gold to cover their positions on other markets.

Prices of other precious metals are also crashing. Silver fell 14 percent to $12.61 an ounce, touching the lowest in more than a decade. Platinum plummeted as much as 26 percent to $564 an ounce, hitting the lowest since 2002. Palladium was down 10 percent to $1,626.53 an ounce, reaching the lowest since September.

Source: https://www.rt.com/

MORE NEWS

Online Casinos Can Advertise on Google in 2020 as Ban Ends

Online Casinos Can Advertise on Google in 2020 as Ban Ends
Google is getting ready to change its advertising policies around the evolving U.S. gambling landscape. The company plans to ease up on ...

American Gaming Association Estimates Potential $21 Billion Economic Loss from Casino ...

American Gaming Association Estimates Potential $21 Billion Economic Loss from Casino Closures
The America Gaming Association (AGA) released a report on Wednesday warning that the US economy could suffer $21.3 billion in economic ...

Coronavirus: Macau forecasted GGR for 2020 halved by Government

Coronavirus: Macau forecasted GGR for 2020 halved by Government
The forecast for Macau’s gross gaming revenue (GGR) has been halved by the jurisdiction's Government for 2020. As reported by GGR Asia, the...

Who's behind the blog

Who's behind the blog