Gold bounced back, reclaimed $4,380 at the end of Friday's trading session
After a difficult start due to the Fed's rate hike, gold still ended up at $4,380 per troy ounce at the end of NY trading session today. Gold closed with +0.72% in the past 7 days, while equities send mixed signals
Spot Gold traded as low as $4,263 per troy ounce by September 16th early morning, but it has bounced back slightly ever since. Gold actually closed the week at $4,380 per troy ounce, and ended up having a positive week +0.73%, after a tough period last week.
On the other hand, spot silver price also ended up at $66.35 per troy ounce, accounting for a +2.89% increase in the week. Precious metals overall have had a pretty decent week, after the Fed's rate hike announcement, and one more potential rate increase in the future before the end of the year.
Equities, on the other hand, sent mixed signals. SP500 traded higher this week, it bounced back to 7669 after it went as low as 7512. NASDAQ is also trading at 29681, and is generally still doing pretty good.
DJI, however, is not doing that well. It traded at 51,688, and looks like its correction may not be over anytime soon. Some of the individual stocks are also still not recovering post the Fed's rate increase announcement.
Related assets: Gold, Silver, Palladium, Platinum