COMMODITIES CRASH: Gold Futures Sink on Weak Sentiment Following Disappointing China Data

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Gold for June delivery is sinking some 6% in pre-market trading, and is at $1,409.60, following worse-than expected economic data from China. This has only intensified the sell-off that had been increasing in recent weeks, prompted by cuts to price forecasts, notably by Goldman Sachs last week, as well as Cyprus' decision to sell its excess fold reserves to help fund its bailout and stop its EUR 6 billion gap.

Among rare metal funds, SPDR Gold Trust ( GLD ) is down 5.68% at $135.77, falling below its 52-week low of $135.77.

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This article appears in: Investing , Commodities


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