how gold performs during stock market drop: Gold price today near $4,000 as stock market down over AI concerns – is it time to add more gold to your portfolio?
Gold price today November 7: Gold futures opened at $3,986.90 per ounce on Friday, nearly unchanged from Thursday’s close of $3,991, and briefly climbed above the $4,000 mark in early trading, as per a report.
Stock Market Drop Boosts Demand for Gold
The modest gain in gold comes after a challenging week for US stocks. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all recorded losses, with the tech-heavy Nasdaq suffering the most, down 3.7% since Monday’s open, as per a Yahoo Finance report.
Concerns about high valuations in artificial intelligence stocks have weighed on investors and Michael Burry of Scion Asset Management, known for predicting the 2008 housing market collapse, revealed on Monday that his fund had…
