Rising Gold-to-Platinum Ratio Signals Losing Market Confidence

Market sentiment continued to deteriorate markedly although G-20 pledged to take coordinated actions to tackle global economic slowdown. Asian and European bourses slumped, following the selloff in US session yesterday. Oil price tumbled amid concerns over waning demand. The front-month contract for WTI crude oil extended weakness to as low as 78.15 after declining more than -6% yesterday. The equivalent Brent crude contract also plummeted below 104, the lowest in more than a month. In the precious metal complex, gold broke below 1700 for the first time since August 8.

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Rising Gold-to-Platinum Ratio Signals Losing Market Confidence