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Gold Futures rise as U.S. equities erase losses, silver slides

Posted on 28 October 2008

From Bloomberg: Gold rose after U.S. equity indexes erased earlier declines, reducing the need to sell the precious metal to cover losses in other markets. Silver fell.

Gold fell 7.3 percent last week as the Standard & Poor’s 500 Index lost 6.8 percent. The metal touched $681 an ounce on Oct. 24, the lowest since Sept. 4, 2007, as share indexes plunged worldwide on concern that a global recession may damp demand for raw materials. The S&P fell as much as 2.4 percent today before rebounding to gain as much as 1.9 percent….. Full Article: Source


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