Gold prices dropped lower on the last trading session of this past week. The
major stock indices were posting more positive trends and thus, precious metal
safe haven appeal dropped lower. The major market indices finished in the green
Friday with the DJIA up by 1.13 percent. The Nasdaq ended the day up by .61
percent and the S&P 500 finished up by .53 percent. The week though was a
volatile one and the Dow Jones swung erratically at times. The inconsistent
trends and surprising peaks and valleys caused investors to seek out safe haven
gold earlier in the week. Gold contract hit an intraday high on Wednesday before
dropping lower to finish up the remainder of the trading week. Although the last
session ended on a more positive note for stocks in the U.S., the major indices
posted moderate losses last week overall and stocks are in line for one of their
worst monthly finishes since the beginning of the financial crisis in the U.S.
several years ago. Precious metal gold is likely to bump even higher if the
marketplace experiences continued volatility this week. Gold closed down last
session to 1742.60 per troy ounce. Spot gold price per gram is trending lower as
well. Spot gold price per gram is red by .08 at 56.15. Camillo Zucari
No comments:
Post a Comment