More Volatility in US Stock Market: Precious Metals Up
October 16, 2018
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Gold just keeps rising amidst falling stocks since last Wednesday after the market took a 1,300-point plummet last week. Rising more than 1 percent on Monday to its highest point since July 26th at $1,231.45 an ounce.
U.S. gold futures also rose 1.1 percent to $1,235. Platinum also rose 1.4 percent to $848.50 an ounce along with Palladium, which rose 1.7 percent to $1,084.10. Silver also gained 1.5 percent to $14.76 an ounce.
“Gold has now got a stronger tailwind from a flight to safety from risky assets,’ said Quantitative Commodity Research analyst Peter Fetrig. “Gold’s next moves will depend on how long this sell-off continues.”