Gold prices got the trading week off on the right foot as the price of gold rose several dollars per ounce today. Gold rise even as stocks traded higher. Gold prices have been trending higher since retesting the $1183 area recently.
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The U.S. Comex gold futures outperformed all the major asset classes this week, jumping 1.60% to end at $1,241.20 on Thursday.
Gold caught a bid today as stocks got hit hard. At one point today, the Dow Jones Industrial Average was down over 400 points as growth fears, concerns over the Euro zone and ebola took its toll.
The U.S. Comex gold futures shot up 2.72% this week to $1,225.30 on Thursday as the market has realized that the Fed will not raise interest rates any time soon.