Gold plunges sharply and suddenly
Advertisement
Gold traders were greeted with a jolt on Monday morning. The precious metal plunged nearly $20 in a matter of seconds right around 4 a.m. ET. The price sank from about $1254 an ounce to a low of $1,236. Gold has recovered a portion of those losses, but still trades down 1% near $1,244.
Advertisement
The precious metal has had a solid start to 2017, gaining 7.36% year-to-date. However, the yellow metal has struggeld to break through its pre-election level of about $1,300.
Gold prices fell in the wake of Donald Trump's election win as traders speculated Trump's pro-business agenda would spark robust economic growth in the United States. That put a charge in the US dollar, and weighed on gold.
Get the latest Gold price here.
Advertisement
- We bought a house in Japan for $30,000. We'll have more land than we could afford in the US, and our kids will be more independent.
- Rumors Prince William is having an affair with Rose Hanbury are flooding social media again after Stephen Colbert waded into 'Katespiracy'
- CEO says he tried to hire an AI researcher from Meta, and was told to 'come back to me when you have 10,000 H100 GPUs'
- India can sustain 8% growth, even higher: RBI bulletin
- Zomato launches 'Pure Veg Mode' with vegetarian riders from eateries that don't serve meat
- Dalal Street investors become poorer by ₹4.86 lakh cr as markets tumble
- Housing markets remain strong in 2024, sales rise 20% across six metro cities in Q1
- Meet RCB’s WPL 2024 star Ellyse Perry, who played both football and cricket World Cups