Gold Prices Hold Steady
Gold prices remained steady and stable with the hopes that another government intervention would boost the economy and keep away another recession. Investors remained cautious about owning more gold that seemed to be a safe haven. For a December delivery, gold ended up at $1.90 at the end of the day at $1,831.70 per ounce. The price of gold has traded as high at $1,842.70 according to the gold index.
Many investors cashed in on the price of gold and used the profits to buy other stocks as many people held out hopes that the federal government would prevent another recession. Other investors bought up gold on any price dips. Some analysts indicated that gold will be in for a few turbulent days and may peak on Friday’s payrolls.
As far as employment goes, the ADP employment report indicated that in the private sector, 91,000 jobs were added in August. That number was 11,000 jobs less than anticipated, but it was not too bad.