A Weak U.S. Stock Market Lends Support to Gold Prices
11/1/2019 9:25:15 AM
Gold dropped on Monday, with strength in the U.S. stock market fueling the Precious Metal’s settlement below the key $1,500 mark. Gold declined to rise on Tuesday, settling at its lowest in a week, as strength in the U.S. stock market drew investors away from the yellow Precious Metal. After posting back-to-back declines, Gold prices rose early Wednesday only to fall after the Federal Reserve cut its benchmark interest rate. Gold pressed higher Thursday, finding haven-related support after Chinese officials expressed doubt over prospects for a long-term trade deal with the U.S. Gold steadied Friday, finding support in a weak U.S. stock market and dollar.