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Wednesday, March 14, 2012

From Yahoo Finance, Gold slips!

Gold fell as investors switched to equities after the U.S. Federal Reserve vowed to keep interest rates low until 2014, while platinum prices held on lingering worries about supply disruption. Quantitative easing keeps interest rates and borrowing costs low, makes gold more attractive compared with yield- or dividend-bearing assets such as bonds or stocks. Platinum rose $4.31 an ounce to $1,685.74 an ounce, having hit an intraday high $1,701.50. It gained on worries about supply following a month-long stoppage at the world's second-largest producer Impala Platinum's largest facility, which the company said cost nearly 200,000 ounces in production and would probably cut deliveries in April by as much as 50 percent.

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