- Cape student sues, accuses school officials of slamming her to ground multiple times (04/28/16)46
- Bob Evans restaurant in Cape Girardeau among chain's 21 closings (04/26/16)9
- Missouri House votes to allow concealed weapons without permits (04/28/16)8
- Police report filed, but no charges in incident at Cape Central (04/29/16)39
- Two hurt in motorcycle wreck on Interstate 55 (04/25/16)1
- Senator introduces bill for I-57 that would connect Sikeston with Little Rock (04/28/16)4
- Law firm requests information about Cape's traffic cameras (04/25/16)2
- Local lawmakers split over failed medical marijuana bill; voters may have a say (04/26/16)19
- Local company makes eco-friendly kitty litter that cuts cat-box smell (04/25/16)
- Man accused of pointing BB gun at Chaffee resident (04/26/16)2
Gold prices plunge to 13-month low
NEW YORK — Gold prices collapsed Wednesday, plunging to a 13-month low as a stronger dollar and growing fears of a global recession spurred investors to yank money out of commodities.
A barrage of worrisome corporate earnings has deepened investors' pessimism about the direction of the economy, prompting them to shift funds into less risky assets like government bonds. At the same time, a sharply stronger dollar is feeding selling of commodities bought as a hedge against inflation and weakness in the U.S. currency.
Gold for December delivery fell $32.80 to settle at $735.20 an ounce on the New York Mercantile Exchange, after earlier dipping to $720, the lowest level since Sept. 4, 2007.
Other precious metals also tumbled. December silver fell 61.5 cents to settle at $9.46 an ounce on the Nymex, while December copper dropped 14.15 cents to settle at $1.8655 a pound.