Gold, Silver, Metal Prices Commentary – April 28, 2010

Bullion update ... Over Easy?

Good Morning,

Precious metals headed lower at the start of the midweek session following yesterday’s Graeco-Portuguese debt crisis boil-over. Stock markets around the world continued to reflect the deepening anxieties and spreading contagion in a most obvious manner; no sooner had the Dow finished the day with a 213 point loss that the Nikkei average shed 287 points of its own and finished under the 11K mark as well.

Commodities also headed lower while Treasuries continued to climb and the euro actually broke to under 1.32, caught in the grip of the spreading debt virus. The IMF has told German lawmakers (you know, the reluctant ones) that somewhere between 100 and 120 billion euros might be needed to carry out a Greek bailout operation. Where the money might come from and in what proportion, — as in how much from EU members and/or how much from the IMF itself — still needs to be clarified.

Read the rest of Gold, Silver, Metal Prices Commentary - April 28, 2010 (1,200 words)

© Jon Nadler, Kitco Metals Inc. for Coin News, 2010. |
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