News Summary: Gold Sinks As Traders Cash Out
By The Associated Press
LESS PRECIOUS: Gold prices slipped to start the week, pressured lower by traders who made bets the precious metal would fall. Gold prices have dropped 1.3 percent so far this year.
CLEANING DAY: Options on the New York Mercantile Exchange's Comex exchange expired Monday, helping to drive gold prices lower. Many of the traders who had previously placed bets that gold would fall through options contracts known as "puts" are closing out those bets and taking their winnings off the table.
ENERGY: Benchmark crude oil rose 56 cents to finish at $96.44 a barrel on the New York Mercantile Exchange.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV