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125-ton sell-order sets gold price for plunge
Gold price suffered a massive decline of 5.6 per cent, or $87 per ounce, on Friday, crash-landing at a 22-month low of $1,477 per ounce.
Reports suggest that a 4 million ounce (124.4 tonnes) sell-order, worth $6 billion at current prices, by a large investment bank spooked the markets and led to this decline.
For, Euro Zone’s troubled economy Cyprus is all set to add to that chaos by reportedly putting its €400 million (Dh1.93 billion) worth of gold on the block, in a bid to shore up its financial health. And if Cyprus does so, there is no reason why other Euro Zone economies in the same dire straits – Italy, Portugal, Spain, Hungary, Slovenia… there are plenty in line – won’t do it.
With this most recent plunge, gold has wiped off almost two years of gains for its loyal investors, with those who pledged their hard-earned money in the safe haven precious metal now in negative equity.
Normally there is a belief like this :
When Gold goes up Stocks go down
When Gold goes down stocks go up ( happened in 80s , 90s )
Is this true ?
News source:http://www.emirates247.com/markets/gold/bullion-bloodbath-125-ton-sell-order-sets-gold-price-for-plunge-2013-04-14-1.502385
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ලංකාවේ මිලදී ගන්න අයගේ දැන ගැනීම සඳහා වත්මන් රන් මිල ගණන් මෙසේය:
අප්රේල් 13 ලෝක වෙළෙඳ පලේ මිල:
රන් අවුන්සයක් US$1477/-
1477 x 125.40 (xe.com) = රු 185,215.80
රන් අවුන්සයක ඇති ග්රෑම ගණන 31.10
ග්රෑමයක මිල = රු. 5955.49
පවුමේ කාසියක බර = ග්රෑම් 8
රන් පවුමක මිල = 5955.49 x 8 =රු. 47,643.00
(මෙම මිල කැරට් 24 රන් සඳහාය. 22 ට අඩු වේ නම් ඒ අනුව මිල අඩුවේ )
Approx. 47,673 /24 x 22 = 44,000/-
(without overheads)
--
Update 15th April 2013
Gold @ US$ 1350
24 C රන් පවුමක (New York) මිල = Rs. 43,400/-
22 C = 39,800/- approximately
Gold price suffered a massive decline of 5.6 per cent, or $87 per ounce, on Friday, crash-landing at a 22-month low of $1,477 per ounce.
Reports suggest that a 4 million ounce (124.4 tonnes) sell-order, worth $6 billion at current prices, by a large investment bank spooked the markets and led to this decline.
For, Euro Zone’s troubled economy Cyprus is all set to add to that chaos by reportedly putting its €400 million (Dh1.93 billion) worth of gold on the block, in a bid to shore up its financial health. And if Cyprus does so, there is no reason why other Euro Zone economies in the same dire straits – Italy, Portugal, Spain, Hungary, Slovenia… there are plenty in line – won’t do it.
With this most recent plunge, gold has wiped off almost two years of gains for its loyal investors, with those who pledged their hard-earned money in the safe haven precious metal now in negative equity.
Normally there is a belief like this :
When Gold goes up Stocks go down
When Gold goes down stocks go up ( happened in 80s , 90s )
Is this true ?
News source:http://www.emirates247.com/markets/gold/bullion-bloodbath-125-ton-sell-order-sets-gold-price-for-plunge-2013-04-14-1.502385
---
ලංකාවේ මිලදී ගන්න අයගේ දැන ගැනීම සඳහා වත්මන් රන් මිල ගණන් මෙසේය:
අප්රේල් 13 ලෝක වෙළෙඳ පලේ මිල:
රන් අවුන්සයක් US$1477/-
1477 x 125.40 (xe.com) = රු 185,215.80
රන් අවුන්සයක ඇති ග්රෑම ගණන 31.10
ග්රෑමයක මිල = රු. 5955.49
පවුමේ කාසියක බර = ග්රෑම් 8
රන් පවුමක මිල = 5955.49 x 8 =රු. 47,643.00
(මෙම මිල කැරට් 24 රන් සඳහාය. 22 ට අඩු වේ නම් ඒ අනුව මිල අඩුවේ )
Approx. 47,673 /24 x 22 = 44,000/-
(without overheads)
--
Update 15th April 2013
Gold @ US$ 1350
24 C රන් පවුමක (New York) මිල = Rs. 43,400/-
22 C = 39,800/- approximately
Last edited by Chinwi on Tue Apr 16, 2013 6:53 am; edited 5 times in total
But I would avoid buy any for the time being but watch the situation. 
