Gold to Copper Bulls Left Heartbroken as Price Collapse Deepens
- Platinum futures decline in longest streak since 2002
- Assets in global gold ETPs reach lowest in six years
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Metal markets took a pounding on Thursday, sending gold to a five-year low and copper to the cheapest since 2009. Falling prices are dragging down producer shares, pushing the Bloomberg World Mining Index to a five-week low.
Investors are fleeing -- withdrawing more than a $1 billion from exchange-traded funds tracking industrial and precious metals just this month, data compiled by Bloomberg show. Platinum dropped Thursday in the worst losing streak since 2002, while silver posted its longest slump since March 2014.