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Gold Stuck In The Mud Along With Stocks

Gold prices were little changed Friday morning, unable to trim recent losses despite massive volatility for U.S. stocks.

The DJIA has plunged into correction territory and is set to open sharply lower yet again today.

Still, gold has not benefitted from its safe haven appeal. Traders are more focused on the outlook for higher interest rates.

Yesterday, Federal Reserve officials said that falling stocks will not hurt the broader economy, paving the way for a March rate hike.

Gold was down 50 cents at $1318 an ounce, having slipped to a monthly low.

On the economic front, the Commerce Department's Wholesale Trade for December will be issued at 10.00 am ET. The consensus is for 0.2 percent, down from 0.8 percent in November.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

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