CME precious metals stocks soar on Trump tariff threat
Gold stocks in COMEX-approved warehouses have jumped by one-third in the past six weeks.
Gold prices continued to nose-dive on Thursday, falling around 2,5% this morning to $1,329 after hitting a low $1,326 earlier.
Despite yesterday’s positive outlook from Thompson Reuters gold survey, futures for the shiny yellow metal also dropped today, hitting the lowest levels in nine weeks on the heels of a report showing unemployment in the U.S. fell the lowest in seven years.
The upbeat news triggered fresh worries about the Federal Reserve scaling back its bond-buying program at its upcoming policy meeting next week.
