After the Dow Jones Industrial Average’s record one-day point gain today, though, gold exchange traded funds (ETFs) might be losing some of their luster as a safe haven. Gold lost $2 in trading today, reports Dow Jones Newswires.
The Dow soared 936 points after the world’s major governments pulled together to support the global banking system, reports Tim Paradis for the Associated Press. All of the major indexes gained more than 11%. Trading was so active that prices were still being computed several minutes after the closing bell.
While investors and analysts alike are stunned by the gains, no one is saying the markets have hit a bottom. It’s more likely that more back-and-forth trading will be seen in the coming days and weeks.
A chart showing how the Dow looked today: