Legal News

The Gold Slump
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

The value of gold has fallen for “the first time in four sessions in New York”, according to Bloomberg. The Bullion decreased from $1,186 an ounce on December nineteenth, but increased to $1,218.90 on December twenty-seventh. The head dealer at Integrated Brokerage Services, Frank McGhee, explained, “We’re seeing improving economies with little or no inflation. The fear has been stripped out of the market, and absent inflation, I think we’ll see gold continue to grind lower into next year.”

The futures for February trading were forty-six percent below the average. Gold hasn’t taken such a drastic plunge since 1981, falling twenty-eight percent. The “improving economy” has resulted in the Federal Reserve to cut back its eighty-five billion in bond purchases per month.  Peter Fertig, the owner of Quantitative Commodity Research Ltd., commented, “The market is fearing the impact of tapering. You have firmer equity markets. There’s currently no crisis and nothing that would induce investors to rush into gold.”

  
What
Where


The Fed is coerced into reducing its bond purchases in ten billion dollar increments in December 2014. The value of silver has also taken a fall. Silver futures for March delivery decreased 1.7 percent to $19.705 an ounce. The metal’s worth fell thirty four percent this year for “the biggest annual slump” (similar to gold) since 1981.

Image Credit: Bloomberg

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!






 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-level Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking a mid-level litigation attorney with experience taking/defending dep...

Apply Now

Mid-level Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking a support attorney with some experience/familiarity with a litigatio...

Apply Now

Patent Prosecution Attorney

USA-MI-Northville

Northville office of our client seeks patent prosecution attorney with 5 years of experience. The ca...

Apply Now

Trademark and Copyright Associate Attorney

USA-CA-San Francisco

San Francisco office of our client seeks trademark and copyright associate attorney with 4-8 years o...

Apply Now

RELEVANT JOBS

Attorney - Insurance Defense

USA-GA-Atlanta

Downtown litigation law firm seeks associate with 3 to 5 years of experience in insurance defense, i...

Apply now

Legal Secretary-Cannabis Law Firm

USA-MI-Lansing

Vora, PLLC. Is accepting applications for a Legal Secretary or Paralegal. We are a cannabis law firm...

Apply now

Paralegal- Cannabis Law Firm

USA-MI-Lansing

Vora, PLLC. Is accepting applications for a Paralegal or Legal Secretary. We are a cannabis law...

Apply now

Legal Administrative Assistant

USA-CA-Sacramento

Under the general direction of the supervising attorney(s) and according to established Firm policie...

Apply now

SEARCH IN ARCHIVE

To Top