Gold and Silver Prices Suffered as Investors were in the Mood to Sell

6:14 AM


September 27, 2016 -- Gold lost a bit of ground in U.S. trading yesterday and silver prices suffered even more. Investors were in the mood to sell, as stock prices also got clobbered.

Some fear returned to Wall Street following reports of fewer new home sales and mounting troubles at Deutsche Bank. The German lender has been reeling for much of the year because of non performing loans and a massive $42 trillion dollar exposure to derivatives. The share price lost more than 7% yesterday, closing at the lowest price in at least 20 years.

Meanwhile, U.S. regulators recently compounded concerns over the bank’s solvency by proposing a $14 billion dollar fine related to fraud and misdealing around mortgage securities. If the mega bank fails, or is forced to raise capital, the daisy chain of troubles could dwarf the collapse of Lehman Brothers in ‘08.

Live prices at MoneyMetals.com show gold currently trading at $1,330.45 per ounce on the global market, and silver is coming in at $19.29.

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