Gold is making a nice recovery since it plummeted last Friday and then again on Monday. At the moment its trading at $1392 an oz. Although this still isn’t great, it gives investors hope that it will eventually make a full recovery.
Stop losses were ignited on Friday as gold fell below $1500 an ounce and then kept falling on Monday morning. Many blamed it on the strengthening of US dollar, others assumed it was a fluke.
Many analysts cite the Asian market as the reason Gold is recovering so nicely. Through this whole ordeal, Physical Asian Gold never faltered, with stocks continuing to climb today.
When it comes to other precious metals, all of them are up. Silver is up to $23.30 an ounce while Platinum is up $1,425 an ounce.
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