Spot gold falls to lowest since February 2011
By Hu Xiaocen |
April 16, 2013, Tuesday
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Print Edition
Print Edition
SPOT gold in Shanghai fell yesterday to the lowest since February 2011, tracking losses in overseas markets, as investors expect demand for safe-haven assets to contract as the global economy improves.
The spot contract for gold of 99.99 percent purity on the Shanghai Gold Exchange shed 7 percent to 289.90 yuan (US$46.50) per gram. Gold for June delivery fell 5 percent from the previous settlement to 298.93 yuan per gram on the Shanghai Futures Exchange, the least expensive since March 2011.
The spot contract for gold of 99.99 percent purity on the Shanghai Gold Exchange shed 7 percent to 289.90 yuan (US$46.50) per gram. Gold for June delivery fell 5 percent from the previous settlement to 298.93 yuan per gram on the Shanghai Futures Exchange, the least expensive since March 2011.
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