COMMODITIES-Gold, oil slump for 2nd day; poor China data fuels recovery doubt
Jack Travis
2013-04-17
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Southwood international group news bulletin hong kong
http://volvaknights.blog.com/2013/04/17/commodities-gold-oil-slump-for-2nd-day-poor-china-data-fuels-recovery-doubt/
* Gold slides to over 2-year lows
* Bullion loses edge on stimulus fears; ETF outflows rise
* China GDP grows by less than expected 7.7 pct in Q1
* Oil, copper at multi-month lows
By Manolo Serapio Jr
SINGAPORE, April 15 (Reuters) - Gold sank to its weakest in two years and oil and copper hit multi-month lows as investors sold off commoditiesfor a second day on Monday, worried that central banks will pull the plug on stimulus and as disappointing Chinese data signaled a setback for the global economic recovery.
Gold fell more than 3 percent, after sliding 5.3 percent on Friday, as investors further slashed their bullion holdings on concern that centralbanks are bent on halting stimulus measures this year, cutting gold's appeal as a hedge against inflation. Holdings on global gold exchange-traded funds hit their lowest in more than a year.
China's economy grew 7.7 percent in the first quarter, undershooting market expectations for an 8.0 percent expansion and frustrating investors hoping the world's No. 2 economy would rebound after posting its weakest growth in 13 years in 2012.
CONTINUE READING:
http://www.reuters.com/article/2013/04/15/markets-commodities-idUSL3N0D20YB20130415
RELATED ARTICLE:
http://thesouthwoodgroup.edublogs.org/2013/04/17/commodities-gold-oil-slump-for-2nd-day-poor-china-data-fuels-recovery-doubt/
southwood international group news bulletin hong kong
http://volvaknights.blog.com/2013/04/17/commodities-gold-oil-slump-for-2nd-day-poor-china-data-fuels-recovery-doubt/
* Gold slides to over 2-year lows
* Bullion loses edge on stimulus fears; ETF outflows rise
* China GDP grows by less than expected 7.7 pct in Q1
* Oil, copper at multi-month lows
By Manolo Serapio Jr
SINGAPORE, April 15 (Reuters) - Gold sank to its weakest in two years and oil and copper hit multi-month lows as investors sold off commoditiesfor a second day on Monday, worried that central banks will pull the plug on stimulus and as disappointing Chinese data signaled a setback for the global economic recovery.
Gold fell more than 3 percent, after sliding 5.3 percent on Friday, as investors further slashed their bullion holdings on concern that centralbanks are bent on halting stimulus measures this year, cutting gold's appeal as a hedge against inflation. Holdings on global gold exchange-traded funds hit their lowest in more than a year.
China's economy grew 7.7 percent in the first quarter, undershooting market expectations for an 8.0 percent expansion and frustrating investors hoping the world's No. 2 economy would rebound after posting its weakest growth in 13 years in 2012.
CONTINUE READING:
http://www.reuters.com/article/2013/04/15/markets-commodities-idUSL3N0D20YB20130415
RELATED ARTICLE:
http://thesouthwoodgroup.edublogs.org/2013/04/17/commodities-gold-oil-slump-for-2nd-day-poor-china-data-fuels-recovery-doubt/
southwood international group news bulletin hong kong
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