Gold Gets Modest Boost Amid Bloodbath For Stocks

2018-02-06 10:06

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.