Summary Box: Gold gets boost as investors eye safe investments; oil falls sharply again
By APThursday, May 6, 2010
Summary Box: Gold rallies as investors seek safety
SAFE GOLD: Investors flock to gold because of its perception as a safe investment during periods of volatility. The price of gold jumped more than $22 as the Dow Jones industrials plunged nearly 1,000 points in erratic trading before ending down about 350.
OIL PLUNGES: A stronger dollar and mixed data on the economy helped drive oil lower for a third straight day.
EURO WORRIES: Investors are skittish because of worries that Greece’s debt problems will spread. That could slow a global economic recovery and destabilize the euro, the currency used by 16 European nations.
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