Gold Rising as Equities Tumble; But Where's It Heading?
February 4th, 2009 by
The Sun submits:
In case you didn’t notice, the bullion has quietly made a comeback as stocks fell. On Friday, spot gold surged $22.20 (2.4%) to reach $927.20 an ounce, the six-month high (click to enlarge the following chart from Market Club), after a government report showed that GDP contracted at an annual rate of 3.8% in the last quarter of 2008, the most in 27 years, after a 0.5% decline in the third quarter. The two consecutive quarters of negative GDP growth also marks the official start of a recession, even though economists have long declared that the recession actually began in December 2007.
Source:Gold Rising as Equities Tumble; But Where's It Heading?
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