Gold Rises On Safe Haven Buying Mon, 2nd Apr 2018 20:18 WASHINGTON (Alliance News) -
Gold futures surged Monday thanks to safe haven demand as US stocks were hammered.
June gold settled up USD18.50, or 1.4%, at USD1345.80/ounce.
The DJIA plunged 700 points and the Nasdaq neared correction territory after some critical tweets toward Amazon by Donald Trump.
A report released by the Commerce Department on Monday showed a much smaller than expected increase in US construction spending in the month of February.
The Commerce Department said construction spending inched up by 0.1% to an annual rate of USD1.273 trillion in February after coming in nearly unchanged at USD1.272 trillion in January. Economists had expected spending to climb by 0.6%.
A summary of the financial and operating results for the fourth quarter and full year 2017 and 2016 follows: