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Gold below $4,000 described as healthy correction
Gold prices fell beneath $4,000 per ounce this week which industry figures said was a necessary correction as the metal’s rally had driven lately by speculative positioning. Bullion declined to $3,980 per ounce during Monday’s session after climbing 27% over seven weeks to reach $4,381 on October 20. Prices have retreated more than nine percent from that recent peak within a week. Industry executives gathering at the London Bullion Market Association conference in Kyoto suggested prices could fall further before recovering, according to a report by the Financial Times. “I think a lot of people in the industry ... (full story)
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