Updated
Updated · USA TODAY · Sep 11Gold Falls 1.50% to $4,330.16 an Ounce, Down $65.81
2 articles · Updated · USA TODAY · Sep 11Summary
- $4,330.16 per ounce was the spot gold price at 8:05 a.m. ET on Sept. 11, down 1.50% from the previous close.
- The daily move erased $65.81 from gold's value versus $4,395.97 at the prior close, extending a recent pullback.
- Gold is also down 3.38% from a week ago and 1.04% from a month ago, after trading at $4,481.57 and $4,375.78 on those dates.
- Even with the latest drop, bullion remains up 18.79% from $3,645.30 a year ago and sits 20.95% below its 52-week high of $5,477.79.
Insights
With central banks hoarding gold while retail jewelry demand collapses, which force will dictate the precious metal's next major price swing? If persistent inflation usually boosts gold, why are rising producer prices suddenly driving investors away from the ultimate safe-haven asset?