Some roller coasters leave riders frazzled, and that probably best describes the situation for bullion investors this week as they come off some of the wildest trading periods in recent memory. Gold started off the past week (beginning September 9) around $1,509 following strong performance in the previous weeks and, at one point, topping $1,550. Many saw the rally as an indication that the bulls were loose in the bullion arena. But a manic Monday is all many investors experienced, with the yellow metal dipping to $1,485 by the end of the day.
Gold bounced up and down Tuesday (September 10) and Wednesday (September 11), flirting with the $1,500 threshold at least once on each of those two days but always recoiling to $1,490 or so. Thursday (September 12) looked to be another breakout day, with gold screaming to $1,516 in mid-morning trading. But, by the close of the day, gold returned to just below $1,500. What’s going on? More of the same… The stock market is teasing everybody, and so are the big players in the world markets.
The stock market has done a remarkable job this past week recovering many of the losses experienced over the past months, and some even believe the Dow Jones Industrial Average is poised to break new all-time records. But as more Americans fear a recession is near and trade wars continue between the United States and China, there are plenty of doubts at the top of many investors’ minds. What will today’s trading bring to close out the week? The crystal ball is looking cloudy recently, but keep those harnesses tightened – the bullion roller coaster ride may just continue.
