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Turkey collapse doesn't stop plunge in gold

Published 08/13/2018, 08:03 AM
Updated 08/13/2018, 08:03 AM
© Reuters.  Turkey collapse doesn't stop plunge in gold
  • Turkey's central bank has taken its first steps at intervening in the collapse of that country's currency, stocks, and bonds. The Borsa Istanbul 100 Index, however, is down another 5.8% today, and the lira continues to tumble. TUR -10% premarket
  • Those troubles are hurting the overall emerging markets sector, with the iShares MSCI Emerging Markets ETF (NYSEARCA:EEM) down 1.3% premarket.
  • Good for gold? Not so much. The brutal bear market for the yellow metal continues, down another 1.2% today, and just holding its head above $1,200 per ounce. That's the lowest price in more than a year, and off about 12% from the 2018 peak.
  • Previously: Global stocks lower, U.S. dollar higher amid Turkish currency crisis (Aug. 13)
  • ETFs: GLD, IAU, PHYS, SGOL, UGLD, UGL, DGP, GLL, GTU, GLDI, OUNZ, DZZ, DGL, DGLD, DGZ, GYEN, BAR, GEUR, GLDW, GHS, UBG, QGLDX, GHE, GLDM, IAUF
  • Now read: Gold Sits Near Its Low In 2018


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