Gold Prices Plummet as Fund Managers Duck Out
"If you look at it in the beginning of the morning with Empire manufacturing slightly better than expected, then what you also had was industrial production was slightly worse than expected, then the consumer sentiment number kind of came in right on target," said Doug Roberts, chief investment strategist of ChannelCapitalResearch.com. "So at this point, there's no real catalyst to either go up or down based on economic news."
SPDR Gold Trust was shedding 1.8% on higher-than-average volume, and iShares Gold Trust (IAU) also decreased 1.8%.-- Written by Joe Deaux in New York. >Contact by Email. Follow @JoeDeaux
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
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
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts