(彭博社)——黄金和白银遭受了多年来最大的抛售,在火热的反弹中,价格飙升至历史新高。
黄金下跌了8%,跌至每盎司5000美元,而白银跌破100美元,因为抛售席卷了更广泛的金属市场。伦敦的铜价下跌了3%以上,周四首次飙升至每升14,000美元以上,这是自2008年以来最大的日内飙升。
(Bloomberg) -- Gold and silver suffered the biggest sell-off in years, in a whipsawing reversal of a scorching rally that’s lifted prices to all-time highs.
Gold dropped as much as 8% to crash through $5,000 an ounce, while silver slumped below $100 as the sell-off swept through the broader metals markets. Copper dropped more than 3% in London, after surging above $14,000 a ton for the first time on Thursday, in its biggest intraday jump since 2008.
The selloff came as the dollar rebounded after a report the Trump administration is preparing to nominate Kevin Warsh for Federal Reserve chair. The greenback’s rally undercut sentiment among investors who had been piling into metals after the president signaled a willingness to let the currency weaken. Chinese investors have led the charge, buying in such force that it prompted the Shanghai Futures Exchange to rush out measures to cool the surge in precious and industrial metal markets.
Silver plunged more than 17% toward $95 an ounce, intensifying a period of extreme volatility that’s rocked the precious metals industry. A gauge of the dollar rose as much as 0.6%, making precious metals more expensive for most buyers. Platinum tumbled more than 10%.
President Donald Trump is expected to announce Warsh as his nomination for Fed chair, Bloomberg News reported. The former Fed governor has a longstanding reputation as an inflation hawk, but has aligned himself with the president in recent months by arguing publicly for lower interest rates. Trump said he would announce his nominee on Friday morning US time.
Gold’s move “validates the cautionary tale of fast-up, fast-down,” said Christopher Wong, a strategist at Oversea-Chinese Banking Corp. While reports of Warsh’s nomination were a trigger, a correction was overdue, he said. “It’s like one of those excuses markets are waiting for to unwind those parabolic moves.”
With gold and silver jumping so much already this year, some technical indicators flashed warning signs. One is the relative-strength index, which in recent weeks signaled that both metals may have become overbought and due a correction. Gold’s RSI recently hit 90, the highest it has been for the precious metal in decades.