Stock Markets Open Mixed; Will Gold Go Back Above $2,000?

The stock market returned to its mixed ways on Thursday, showing the ongoing efforts from investors to try to identify certain segments of the economy that are likely to do better than others. Unemployment claims fell below the 1 million mark this past week, marking another milestone toward hopefully returning to more normal economic conditions. Just before 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 67 points to 27,910. However, the S&P 500 (SNPINDEX: ^GSPC) rose 2 points to 3,382, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) climbed 88 points to 11,100.

The precious metals markets have been particularly tumultuous this week, with gold prices in particular having soared to record levels before falling back in dramatic fashion. On Thursday morning, gold and silver posted solid rebounds. The moves have some investors wondering whether trends in the economy could support a longer-term rise for precious metals and the stocks that benefit when prices go up.

Precious metals markets opened higher Thursday morning, continuing to rebound from declines earlier in the week. Gold prices jumped $28 per ounce to $1,942 shortly before 11 a.m. EDT, while silver prices were higher by $1.15 per ounce to $26.60. Platinum-group metals also followed gold and silver higher, as platinum gained $27 per ounce to $948 and palladium climbed $35 per ounce to $2,043.

Source Fool.com