Gold futures rose sharply Thursday as equities sank with markets focused on longer-term worries about the economy after a two-day meeting of the Federal Open Market Committee officials that ended Wednesday.
“We’re seeing a sector rotation out of risk assets like U.S. equities and into the safety of gold, silver and bonds,” said Phillip Streible, chief market strategist with Blue Line Futures.
Around 11:30 a.m. EDT, the Dow Jones Industrial Average was down by around 1,106 points as the market gave up some of the steep recovery that had occurred after this spring’s sell-off that was due to economic fallout from the COVID-19 pandemic.
Click On The Image Bellow To Read Full Article:
