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Gold Hitting Two-Year Lows: Are Glory Days Done?

By: ETFdb
While bullish momentum continues to be a dominant force in U.S. equity markets, commodities have not fared as well so far in 2013. With major U.S. equity indexes continuing to push into uncharted territory, posting fresh highs not seen in over five years, investors’ appetites for risk have risen, making coveted safe haven assets like precious metals falter. Gold in particular has taken a heavy beating in recent days, with the commodity tumbling into bear market territory for the first time in nearly 12 years [see The Ultimate Guide To Resource-Specific "Third Generation" Commodity ETPs]. Just during Monday’s trading session, gold plummeted over 9%, shedding more than $100 per troy ounce and marking its biggest one-day percentage drop in 30 years. Since last Thursday, gold prices have fallen the most in two sessions in dollar terms since gold futures began trading in the U.S. in 1974. The precious metal did manage to [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Stocks Rebound From Worst One-Day Drop In 2013 Daily ETF Roundup: Dow Tumbles, Posting Worst One-Day Drop In 2013 Comparing The Performance Of The World’s Largest ETFs Bracket Madness: ETF Style One ETF Issuer Stands Out From The Rest
While bullish momentum continues to be a dominant force in U.S. equity markets, commodities have not fared as well so far in 2013. With major U.S. equity indexes continuing to push into uncharted territory, posting fresh highs not seen in over five years, investors’ appetites for risk have risen, making coveted safe haven assets like precious metals falter. Gold in particular has taken a heavy beating in recent days, with the commodity tumbling into bear market territory for the first time in nearly 12 years [see The Ultimate Guide To Resource-Specific "Third Generation" Commodity ETPs]. Just during Monday’s trading session, gold plummeted over 9%, shedding more than $100 per troy ounce and marking its biggest one-day percentage drop in 30 years. Since last Thursday, gold prices have fallen the most in two sessions in dollar terms since gold futures began trading in the U.S. in 1974. The precious metal did manage to [...]

Click here to read the original article on ETFdb.com.

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