Go Finance Reporting in SINGAPORE - Gold prices moved lower in line with the regional stock market slump in Japan by the tsunami. The speculators seem to sell gold to cover losses in the earthquake and tsunami that occurred.
As quoted by Reuters on Tuesday (03/15/2011) in the spot market price of gold fell $ 2, 50 to USD1.424, 15 per ounce. Yet this investment instruments increased by one percent on Monday due to the struggling Japanese efforts to prevent nuclear radiation disaster after the quake and tsunami.
Meanwhile, gold prices in the futures market the United States (U.S.) for the period April delivery had no movement, and remain at the level of USD1.424, 3 per ounce.
An explosion occurred at a nuclear power plant (PLN) in Japan in the early morning. Some workers were ordered to leave the scene, a sign that the situation might become more serious in the earthquake and tsunami that occurred.
As you know, Japan has just hit by the earthquake and tsunami that caused a nuclear leak. This causes a very serious problem and the complex there.
U.S. dollar falls against the yen on Monday. it is a sign of Japanese insurance companies withdraw their funds in the form of U.S. dollars to pay claims and the costs of reconstruction after the earthquake and tsunami.
In line with Wall Street indexes in the United States (U.S.) is weakened. Asian indices also red evenly this time. Nikkei plummeted 620.76 points, or 6.45 percent, to 8999.73, the Hang Seng fell 742.61 points, or 3.18 points, to 22,603 san Straits Times fell 72.92 points, or 2.41 percent, to 2957.94. ( GoFinance)
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