Gold Prices Surge on Investor Flight to Quality
Gold prices surge as investors poured into the yellow metal as a safety hedge against tumbling stocks.
Gold prices surge 2% as investors flee to the yellow metal as a safety hedge against the tumbling stock market. TheStreet's Joe Deaux says the World Gold Council said in a meeting with the press on Monday that it predicts the gold prices is stabilizing now that the Federal Reserve is scaling back its economic stimulus program. Deaux also says Marex Spectron wrote in a note that it expects the gold market in 2014 to be range-bound, with positive and negative price swings.
