GOLD FUTURES HIT 12-YEAR LOW; LOANS, SALE OF METAL FEARED.Byline: Bloomberg News Gold futures plunged to a 12-1/2-year low amid persistent concern that central banks This is a list of central banks. Contents A B C D E F G H I J K L M N O P Q R S T U V W Y Z will lend more gold, increasing supply at a time of slack demand and raising speculation that outright sales could follow. Confirmation this week from Germany's Bundesbank that it has been lending some of its 3,700 metric tons of gold reserves followed recent announcements by Switzerland that it may sell almost a third of its reserves, some 800 tons. In July, the Reserve Bank of Australia The Reserve Bank of Australia came into being on 14 January 1960 to operate as Australia's central bank and banknote issuing authority. The bank offers banking services to the Federal Government, and to licensed banks that participate in the payments system. said it sold more than two-thirds of its gold reserves. ``Gold is a washout washout to disperse or empty by flooding with water or other solvent. medullary solute washout a syndrome in which the relative hyperosmolarity of the renal medulla is reduced due to an excessive loss of sodium and chloride from ,'' said Jeffrey Ralph, a trader at Royal Bank in Toronto. ``The drop hasn't been long in coming because of the Bundesbank news on top of the Swiss sale plan.'' The drop in gold prices was exacerbated by Friday's expiration EXPIRATION. Cessation; end. As, the expiration of, a lease, of a contract, or statute. 2. In general, the expiration of a contract puts an end to all the engagements of the parties, except to those which arise from the non- fulfillment of obligations created of December gold options. As prices fell closer to $300 an ounce, the value of ``put'' options with a price of $300 an ounce rose, forcing the option sellers to hedge their positions by selling futures contracts Futures Contract An exchange traded agreement to buy or sell a particular type and grade of commodity for delivery at an agreed upon place and time in the future. Futures contracts are transferable between parties. . That accelerated the decline in futures, traders said. |
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