It was the best of times, it was the worst of times

- October 2nd, 2008

Gold Investing News reports the effects of the gold market prices with the revised progress of the US financial bail-out plan.  The S & P 500 climbed 5 percent by the end of Tuesday’s close, recovering from an 8.8 percent fall, its largest single day decline since October 1987.  Following in the wake of Monday’s sell … Continued

Gold Investing News reports the effects of the gold market prices with the revised progress of the US financial bail-out plan.

 The S & P 500 climbed 5 percent by the end of Tuesday’s close, recovering from an 8.8 percent fall, its largest single day decline since October 1987.  Following in the wake of Monday’s sell off, Wall Street saw its strongest trading session in six years, with many investors expecting that Washington will revitalize the US financial sector bailout plan in some format.  Closing the chapter on a very dark September for Wall Street, gold has increased 5.5 percent over the month, and is up 17 percent in the past year.  The spot price of gold ended the day at USD $871.45 per troy ounce, as the US dollar strengthened on positive news flow and market sentiment.

 

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