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Gold Gets Modest Boost Amid Bloodbath For Stocks
Gold futures were higher Tuesday morning, with the precious metal boosted by its safe haven appeal. U.S. stocks are poised for another rough session following yesterday's historic sell-off. The Dow Jones Industrial Average fell 4.6%, or 1,175 points, to 24,346. It was the biggest one-day point drop ever, and worst on a percentage basis since 2011. Gold was up $7 at $1342 an ounce. The Commerce Department's International Trade data for December will be issued at 8.30 am ET. Analysts expect a deficit of $51.9 billion, compared to deficit of $50.5 billion in the previous month. St. Louis Federal Reserve Bank President James Bullard will speak at 8.50 am ET.