Gold Hits Record, US Stocks Fall

Posted July 18th, 2011 at 4:25 pm (UTC-5)
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U.S. stock market indexes declined in Monday's trading. The Dow Jones Industrial Average retreated eight-tenths of one percent to end at 12,385. The S&P 500 also fell eight-tenths of a percent to close at 1,305 and the NASDAQ lost nine-tenths of a percent to hit 2,765.

European stock markets were lower at the close of trading. London's Financial Times 100 index lost 1.6 percent to close at 5,753. The CAC-40 in Paris moved down 2 percent to end at 3,651 and the DAX in Frankfurt slid 1.6 percent to reach 7,108.

Earlier in Asia, Japanese markets were closed for a holiday. Hong Kong's Hang Seng index slipped three-tenths of one percent to end at 21,805.

The price of gold rose nearly $13 to trade at $1,606.49 an ounce, rising above $1,600 for the first time ever on Monday.

The dollar was lower against the yen but made gains compared to the euro.