A Weak U.S. Stock Market Lends Support to Gold Prices

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.

APMEX Market Reports provide our readers with a review of spot price activity and some of the factors that may be affecting the market for Precious Metals. While the information is obtained from sources we believe to be reliable, we do not guarantee its accuracy or its completeness and we encourage you to conduct your own investigation prior to making any decision based on the information. The Market Reports are not intended as a comprehensive discussion and there may be other factors affecting the financial marketplace. These Market Reports are provided for informational purposes only and do not constitute a recommendation by APMEX to hold, purchase or sell any Precious Metal product. All orders, purchases and sales, if any, are subject to the terms of the User Agreement and other applicable policies

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