USER REVIEWS - Southwood Norsemytho Group
Posted in the Business News Forum
Since: Jun 13
#1 Jun 23, 2013
COMMODITIES-Gold, oil slump for 2nd day; poor China data fuels recovery doubt
Southwood international group news bulletin hong kong
* Gold slides to over 2-year lows
* Bullion loses edge on stimulus fears; ETF outflows rise
* China GDP grows by less than expected 7.7 pct in Q1
* Oil, copper at multi-month lows
By Manolo Serapio Jr
SINGAPORE, April 15 (Reuters) Gold sank to its weakest in two years and oil and copper hit multi-month lows as investors sold off commoditiesfor a second day on Monday, worried that central banks will pull the plug on stimulus and as disappointing Chinese data signaled a setback for the global economic recovery.
Gold fell more than 3 percent, after sliding 5.3 percent on Friday, as investors further slashed their bullion holdings on concern that centralbanks are bent on halting stimulus measures this year, cutting golds appeal as a hedge against inflation. Holdings on global gold exchange-traded funds hit their lowest in more than a year.
Chinas economy grew 7.7 percent in the first quarter, undershooting market expectations for an 8.0 percent expansion and frustrating investors hoping the worlds No. 2 economy would rebound after posting its weakest growth in 13 years in 2012.
The Chinese data comes after soft U.S. retail sales and consumer sentiment numbers raised doubts about the economic recovery momentum in the worlds top economy, driving down commodities and equities on Friday.
Since: Jun 13
#2 Jun 23, 2013
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