Commodities: Gold rises as dollar slides
Free email from MoneyWeek
Money
Morning is the FREE daily email from MoneyWeek – a punchy round-up
of the latest investment news and profit opportunities. DON’T MISS
IT!
This genius investor does dizzying levels of research to uncover...Half Price Shares!
Gold prices surged again on Tuesday after a surprise rate cut by the Federal Reserve impacted the dollar.
The contract for February delivery rose up $8.60 at $890.30 an ounce after the Fed cut its basic interest rate by three-quarters of a percentage point to 3.5%.
Investors also piled into gold, retracing the losses it incurred the previous day on the back of the sell-off in the equity markets.
(Article continues below)Advertisement
Other precious metals fell, with sliver down 11 cents to settle at $16.11 while platinum slid $6.90 to $1,558.
Crude also fell, down 72 cents to $89.85 a barrel, but pared losses after the rate cut announcement. The contract had hit an intraday low of $85.42.
FREE! For all our latest advice on making profitable investments, claim your 3-week FREE trial of the MoneyWeek website and magazine now.
Money Morning is the FREE daily email from MoneyWeek
– a punchy round-up of the latest investment news and profit opportunities.
DON’T MISS IT!
