Bad News for Gold as Prices Slip

If anything gold prices have been volatile over the past few months and today isn’t any different. Gold prices dipped slightly today as investors were about to breathe a sigh of relief that the worse was over. Due to a small increase in the U.S. dollar, gold prices are down $9.30 to $1,464.50 an ounce.

In related news, Korea slashed its interest rates earlier his morning while the Euro Zone economy is weak and could get weaker in the coming months. China also reported that  the price index have dropped which usually indicates the production of gold in China has been slowing down. These are not good signs when it comes to gold prices, and at his point investors can only hope for the best.

In mining stocks, most of the stocks were down anywhere from one cent to 43 cents while Franco Nev Corp’s stock rose the most and that was only by eight cents. ETFS stocks fared worse with Physical Asian Gold down 0.73% and Gold Miners ETF Market Vectors down 0.85%.

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