The Phaserl


Gold, Silver, Equities, Bonds Plunge On Fed Noise And China Debt Crisis Risk

from Gold Core:

Gold fell to a more than two-year low, while silver was at its lowest since 2010. Gold fell 2.7% and silver slumped by 4.5%.

The sell-off began after Fed chairman Ben Bernanke again suggested that U.S. economic growth was strong enough to begin tapering back on its $85 billion in monthly asset purchases later this year.

Ten-year U.S. Treasury note yields hit 15-month highs of about 2.38% after the comments sparking a slump in global equity and bond markets.

The FTSE fell 1.8% in early trade, while the Dax was down 2.4% and the CAC 40 down 2.1%.

The selling accelerated when a survey of China’s factories showed activity slumping to a nine-month low just as a squeeze in the nation’s money markets sent short term rates to record highs.

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1 comment to Gold, Silver, Equities, Bonds Plunge On Fed Noise And China Debt Crisis Risk

  • Frank Zak

    The major problem is all the old
    time traders know there is an 80%
    chance of gold hitting $1030.

    Gold may be actually worth $5,000,
    but fundamentals do not rule the market.

    But, for you people whom have bought silver.
    Don’t worry. You have learned an important
    lesson which is mor valuable.

    Buy gold. Gold American Buffalo 24kt
    in shrink wrap are the best.

    Only $30 between buy and sell at your local
    coin dealer.

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