WA TODAY: Gold fell below $US1,600 an ounce for the first time since October as a stronger dollar curbed demand for the metal as an alternative asset. Silver, platinum and palladium also slumped.
The dollar rose to an 11-month high against the euro on signs of increased funding stress as Europe battles to tame its debt crisis. Gold is poised to close below its 200-day moving average today, signaling prices may drop to $US1,400, according to Stifel Nicolaus & Co. The value of a 100-ounce futures contract traded in New York dropped by more than the $US8,500 maintenance- margin requirement today, potentially prompting margin calls. » | Bloomberg | Thursday, December 15, 2011
