Gold shares remained considerably lower in mid-day trading on Friday, but off
their worst levels as precious metals pared their losses. The AMEX Gold Bugs
Index (HUI) fell as much as 2.8% to 511.88 this morning as reports on European
sovereign debt downgrades triggered a broad-based sell-off on Wall Street. COMEX
gold futures slid as much as 1.3% to $1,625.70 per ounce as the U.S. dollar
surged higher against the euro currency. However, the yellow metal cut its loss
in half and was down by just 0.6% at $1,637.80 as of 12:15pm ET.
No comments:
Post a Comment