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.”
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