Scoreboard: Gold meddling

Gold was hit hard overnight while improved jobless claims failed to move investors.

Who knows what’s driving it. There’s been a bit of press recently about Russia’s central bank selling gold and then another press report suggesting that consumer demand for gold out of India has weakened. And then of course the ever elusive taper is always in the background. Whatever the reason, gold was hit hard over night, falling $24 to $1325. Silver was hit even harder – slumping 4.5 per cent. It was basically a commodities rout and copper was off 0.8 per cent while crude fell 0.5 per cent ($96.26).

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