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Direct from experts at Dillon Gage, ModernCoinMart presents an overview of what is going on with numismatics this week.
Precious metals launched the week on a high note, with Gold hitting a four-week high, as frustration with Washington’s gridlock suppressed Wall Street with equities and the world’s Ten-Year Bonds opening much lower. Additionally, the activity in the dollar was brisk, which traded lower going into Monday versus other world currencies, further helping the rally in gold.
On Tuesday, Wall Street ended nine consecutive days of losses, the worst streak since 2011, with a 151-point jump. With the stock market bump, gold predictably closed a little lower on the day.
Generally, gold has hung on throughout the week, off about $10 from its Monday high. But Fed comments continue to suppress the price of gold. We end the week with dollar index and Ten-Year Treasuries virtually unchanged. Wall Street gold traders continue to be absent from trading as the market seems to have no definitive direction.
Author Name: Dillon Gage
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