Almost all hard commodities are falling today. Big drops can be seen in silver, gold, oil and platinum. Despite a favorable situation in the US stock market, the commodities seem to be bothered by the possibility of the monetary policy tightening.
Commodity speculators are awaiting Federal Reserve statement on the future of the US financial regulation that will be released tomorrow. The market sentiment goes that Ben Bernanke may stop buying treasury notes with Fed’s money, effectively closing down the main fuel source for the speculative growth in the
Silver posted the biggest single day absolute loss in years today, following a streak of 9 consecutive days of gain. Nevertheless, April remains a huge winner month for this metal. Gold managed to decline to the minimum level since last Wednesday, confirming its yesterday loss, which followed an
Spot silver price decreased from $46.85 to $45.30 per troy ounce after reaching as low as $44.42 per troy ounce today. Gold declined from $1,506.86 to $1,503.15 after going to as low as $1,492.90. Platinum is now trading at about $1,803.00 as of 17:31 GMT after opening at $1,825.70 today.
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