Gold Prices Inch Up


Gold prices hit a four-month low on Thursday, falling to $1,253 per troy ounce. But they perked back up by a modest 0.45 percent early today, rising to $1,258 per ounce.

Still, in the last eight days of trading, the commodity fell a total $83 in value.

Experts say that Wednesday’s 1.2 percent dip in value follows a strong U.S. economic report. Continuing the momentum, the U.S. employment report Friday showed the addition of 156,000 jobs in September even as overall unemployment inched up to 5 percent from 4.9 percent. The number of individuals applying for first-time unemployment fell to a four-decade low, as described in a report issued last week.

Experts say that low prices could elicit more demand in emerging, gold-hungry markets like India — which could eventually drive prices up.

The safe haven commodity has been in constant flux for the last year as political, economic and social uncertainties continue to rise and fall.

The commodity peaked during the fallout of July’s Brexit referendum, escalating to $1,367 per ounce.

These numbers are still markedly higher than 2015 gold prices, which had sunk below $1,100 per ounce in December.

Further decreases in value could come Monday if Hillary Clinton performs well during Sunday evening’s presidential debate. A day following the Sept. 26 debate — after which Clinton was largely hailed as the winner, calming investors’ uncertainty regarding Donald Trump — gold prices fell slightly, by 0.1 percent.

Read more from this week’s WWD:

Spring 2017 Retail Report: Paris Sizzles for Some, Fizzles for Others

VF Sticks to Formula in CEO Succession Plan: Eric Wiseman is stepping down as ceo of VF Corp., to be succeeded on Jan. 1 by Steven E. Rendle.

Apple, Google, Coca-Cola Top Interbrand’s 2016 Ranking: Dior joins ranking for first time, at number 89, while Prada, Burberry values slide.

Downtown Style Hunters Initiate New Eyewear Craze: Trend-seekers are flocking to Chinatown opticians for a cheap, trendy fix.

They Are Wearing: Street Style Photos from Paris Fashion Week

Why Diamond Sales Are Down (But Don’t Blame the Election): While diamond valuations and demand have plateaued, experts say that American politics are not to blame.

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