Monday April 16th Open: $1,651.30
Weekly Low: $1,635.10
Weekly High: $1,654.40
Friday April 20 Close: $1642.30

Gold prices have been on the downturn this week, lingering under $1,650 on Monday, dropping to $1,642. Gold prices have been following a slight but steady decline since late February, yet the price of gold stabilized on Thursday’s closing after several U.S. economic reports revealed that the American economy has not performed as well as expected in the past week. The gold market is unique because while most commodities markets may look forward to a booming economy, gold’s currency market actually hinges on its place as a hedge against economic downturn. Thus, when the economy seems to be on an upturn, gold prices fall. Continue reading →