Metals
While jewelry demand tends to be inversely related to the price of gold, investment demand tends to be positively correlated with it. For that reason, many analysts say the key to a further price rise in the metal is robust demand for bars or coins.
Miner Iamgold (IAG) reported disappointing adjusted second-quarter earnings of 4 cents a share, lower than the consensus, which had been expecting income of 6 cents. The firm earned 17 cents in the same period a year ago. The news sent the shares down more than 4%. As for base metals, copper prices were 6 cents lower at $3.30 a pound. Meanwhile, cocoa was down almost 1% at $1,854 a ton.TheStreet Premium Services
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note |
|
|---|---|---|---|---|
| 12,419.86 | 1,313.32 | 2,837.36 | 16.25 |
Oil *
103.00
|
|
DOWN
160.83 |
DOWN
19.10 |
DOWN
33.63 |
DOWN
1.06 |
10 Yr
1.62%
SPDR Gold
151.91
|
|
-1.28%
|
-1.43%
|
-1.17%
|
-6.12%
|
Data delayed 20 minutes |
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