(Kitco News) – Precious metals investors embarked on a now familiar roller coaster ride this week, but the ups and downs brought them back to nearly the same level, albeit an elevated one.
Spot gold opened the week trading around $2,505 per ounce, before dipping below the $2,500 level in the middle of the European trading session. North American investors found the yellow metal trading just below $2,490 per ounce at the open, and they promptly pushed it back above $2,500, where it traded throughout Monday, barring a few dips.
Gold prices hit their high-water mark for the week early Tuesday, in a sharp move up that began during the Asian trading session and continued throughout the day, with gold topping out above $2,530 per ounce 15 minutes after American markets began trading. The high was short-lived, however, as spot gold slid all the way back to $2,506 by noon Eastern.