Gold’s Rising Price Draws Both Investors and Central Banks to Mining Stocks
Stocks were down big on Thursday as investors flocked to the safe haven of gold.
As stocks were crashing on Thursday, investors fled to the safe haven of gold. Gold stocks were among the day’s top gainers, as the gold prices hit record highs.
The price of rose more than 3% on Thursday, reaching an all-time high of $3,192 per ounce in midday trading.
Meanwhile, stock markets were in freefall, one day after posting massive bounce-back gains. As of 1:45 p.m. ET, the was down more than 1,900 points, giving back the bulk of its gains on Wednesday. The was down 300 points, or 5.5%, while the was off more than 750 points, or 4.4%. The dropped about 100 points, or 5.2%.
The markets completely ignored a strong inflation report, which saw…
