Financial crisis: gold caught in the storm

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Things are never alone. If the rand, currency of South Africa has dropped by more than 15% this week is that the prices of raw materials, basic resources of the South African economy have fallen sharply in recent days.

New and ominous: the gold price follows the trend now, does "even more" its role as a safe. This shows the magnitude of wind of panic currently raging in financial markets.

The price of gold which had so far withstood the onslaught of the financial cfrise - even had benefited from the misfortune of his "brothers" - appears to have capitulated this week. Precious metals have followed in its wake. Silver, platinum and palladium, falling to the lowest for several years.

If the price of gold opened Monday at 852.55 dollars, it did more to fixing Friday evening as 784.50 dollars an ounce, a fall of 15% compared to the closing of last Friday.

The yellow metal has even declined to 773.72 dollars Friday, the lowest since his last major stall, a month earlier, which saw him lose nearly $ 100 in the single day of 17 September.

According to analysts, volatility in all markets has reached record levels this week. The tenacity of the financial crisis prompted investors to large movements of liquidations to obtain cash.

Thursday, the order of sale of a hedge fund for U.S. trade to lose to gold more than $ 40 an ounce in minutes.

On the London Bullion Market, an ounce of gold was 784.50 dollars at auction Friday evening against 900.50 dollars last Friday.

The money has come in for its $ 10 an ounce, after touching 9.15 dollars Friday, a level reached since February 2006. The ounce of silver was worth 9.56 dollars at auction Friday evening, against 11.74 dollars a week earlier. ( Finance Information City )

Thursday platinum worth 843 dollars an ounce, a low since November 2005. On the London Platinum and Palladium Market, an ounce of platinum was worth 856 dollars against 1001 dollars last Friday evening at auction.

Palladium fell Friday to its lowest since July 2003, at 165.50 dollars. The ounce of palladium was worth 172 dollars against 190 dollars at auction last Friday evening.

The improvement of the situation in South Africa where production had slowed significantly on account of energy shortages, and the weakening of demand prospects because of difficulties in the automotive sector have also continued to weigh on prices.