empty
 
 

2017.10.2013:57:00UTC+00Gold Out Of Style As Stocks Rocket Higher

Gold futures dropped to their lowest in two weeks Friday, as surging stocks boosted appetite for riskier assets.

Markets were in a chipper mood due to progress toward major tax cuts from the Trump Administration.

The Dow Jones Industrial Average jumped 140 points to 23,303, a new record high.

Conversely, Dec. gold slipped $9 to $1280 an ounce, its biggest daily decline in a month.

In economic news, the National Association of Realtors released a report on Friday showing an unexpected rebound in existing home sales in the month of September.

NAR said existing home sales climbed by 0.7 percent to an annual rate of 5.39 million in September from a rate of 5.35 million in August. Economists had expected existing home sales to see further downside and drop to a rate of 5.30 million.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback