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14th August
written by admin

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

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