Top Stories This Week: Gold Price Dips Below US$1,700; Musk, Cramer Talk Uranium

We've made it into September, but that doesn't seem to mean the summer doldrums are over.

The gold price was on a downtrend this week, rising as high as US$1,740 per ounce on Monday (August 29) and falling steadily until Thursday (September 1), when it dropped below US$1,700. At the time of this writing on Friday (September 2) afternoon, the yellow metal was back above US$1,700, changing hands around US$1,710.

For its part, silver fell to its lowest level since June 2020 last week. Both metals continue to face familiar headwinds, including a 20 year high in the US dollar and ongoing hawkishness from the US Federal Reserve.

With gold's drop below US$1,700 in mind, we asked our Twitter followers where they think the price will go in the fall. The poll was ongoing at the time of this writing, but most respondents said down.

We'll be asking another question on Twitter next week, so make sure to follow us @INN_Resource and follow me @Charlotte_McL to share your thoughts!

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

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