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Breaking Down Gold’s Comeback

by Greg Guenthner, Daily

You’ll find the price of gold moving higher again.

It’s only been two weeks since the big crash. But that hasn’t stopped the yellow metal from staging a comeback. For the first time in five weeks, gold ended trading Friday night with a weekly gain under its belt.

After a furious two-day drop that saw gold prices dive from more than $1,550 to the low $1,300s, gold has recovered to the $1,470s. Not a bad move for nine short trading days.

So that’s it? Gold has clawed back about half of what it lost during the two-day drop. It’s back. We can just forget about it and go back to our normal lives, right?


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