Stock Market Update
17-Apr-25 14:00 ET
Gold pulls back from highs on profit-taking, still up 2.5% this week on safe-haven demand
Dow -302.35
at 39367.04,
Nasdaq +46.99
at 16354.14,
S&P +38.03
at 5313.75
[BRIEFING.COM] The Nasdaq Composite (+0.29%) is in second place on Thursday afternoon.
Gold futures settled $18.00 lower (-0.5%) at $3,034.60/oz, up about +2.5% on the week; the weekly rally was mostly driven by safe-haven demand amid escalating trade tensions stemming from President Trump's announcement of new tariff investigations into critical minerals, pharmaceuticals, and semiconductors.
Today's pullback, then, stems from profit-taking as prices approached record highs amid a modest rebound in the U.S. dollar, which makes gold more expensive for holders of other currencies.
Meanwhile, the U.S. Dollar Index is up +0.3% to $99.53.
