Wall Street willing to trust gold again after a week of resilient price action, Main Street flips positive with payrolls on deck | Metals Mine

  • Wall Street willing to trust gold again after a week of resilient price action, Main Street flips positive with payrolls on deck

    From kitco.com

    Gold prices recovered from a dramatic decline at the outset to reinforce multiple key levels of support in the following days, and with prices flirting once again with $4,500 by the end of the week, market participants were more optimistic that the precious metal may have turned the corner. Spot gold kicked off the week trading at $4,507.36, and it got the weakness out of the way early, dropping from a high of $4,524 15 minutes after the Sunday evening open all the way to the weekly low near $4,130 per ounce by 3:00 a.m. Eastern. The bounce was nearly as hard as the fall, however, as gold was right back up to $4,460 ... (full story)

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