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Will the turmoil in the financial markets lead investors to gold?
*Financial Times, by Chris Flood, September 30, 2008
“Oil prices staged a rebound on Tuesday after a sharp fall in the previous session while gold traded around the $900 level after US equities tumbled on Monday following the rejection by Congress of the US government’s $700bn bail-out package for Wall Street.
Nymex November West Texas Intermediate rose $1.30 to $97.67 after a fall of $10.52 in the previous session.
ICE November Brent adedd $1.54 at $95.52 a barrel after dropping $9.56 in Monday session.
Gold traded at $897 a troy ounce after touching a high of $914 earlier in the session. Gold ended trading in New York on Monday at $903.25. Investor interest in gold has strengthened amid the turmoil elsewhere in financial markets.”
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.