Gold Price Rebounds Sharply as Stock Rout Boosts Haven Demand

More from: | Hacked.com |
0

Precious metals declined sharply on Monday, giving back some of last week’s rapid gains as rising bond yields triggered renewed upside in the U.S. dollar.

Gold, Silver Slump

Precious metals prices were down across the board at the start of the week, as commodities traded inversely with the dollar. Gold for December settlement, the most actively traded futures contract, fell $18.20, or 1.5%, to $1,187.40 a troy ounce on the Comex division of the New York Mercantile Exchange.

Silver’s declines were much more severe percentage-wise. The grey metal plunged 34 cents, or 2.4%, to $14.31 a troy ounce.

Gold’s premium over silver has declined 2.6% over the past 30 days to 82.45 ounces, according to Goldprice.org. Over the

(...)

Read full article » https://hacked.com/gold-price-rebounds-sharply-as-stock-rout-boosts-haven-demand/


About | Hacked.com |

For too long, people have lived in a system that is rigged. A system that makes the poor poorer and the rich richer. In 2009, an invention came into existence which is now shaking up the banking industry – but we still have a long journey ahead of us for financial freedom. Automation and AI will claim more jobs than the first industrial revolution did. Researchers are unsure of the ramifications. Countries are debating citizens’ income to adjust for the lack of jobs due to automation. We believe that people need to plan for their own financial freedom. We will share information on how you can make more money and help you take the right financial decisions for the coming years.

We have a dedicated team working to improve your financial understanding and help you get set for the coming macroeconomic changes. We want to give you the tools to become financially independent. Our team consists of economists, entrepreneurs, cryptocurrency enthusiasts, and technologists.

Including Hacked.com we are responsible for CryptoCoinsNews.com, one of the world’s leading bitcoin, blockchain, and FinTech news sites.

»Twitter: @HackedCom