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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.

Read More @ GoldCore.com

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

  • Frank Zak

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    lesson which is mor valuable.

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