Category: Markets / Finance / August 27, 2013 2:41 PM EDT
Wall Street added to losses on Tuesday afternoon, amid increasing concerns currently surrounding military strikes in Syria, as gold hit its highest price in over three months.
David Williams, director at Strategic Gold Corporation, discusses how geopolitical conflicts impact gold prices.
“Typically during a time like this it helps the price of gold,” said Williams. “Generally in times of uncertainty people go to things that are certain, and gold is a safe haven in those events. They also go to things like the U.S. dollar.”
In addition, the CBOE Volatility Index (VIX), a gauge used to measure fear in the market, jumped just above 16 on Tuesday.
The Dow Jones industrial average fell 124.17 points or 0.83 percent, to 14,822.29. The S&P 500 was down 19.81 points or 1.2 percent, to 1,636.98. The Nasdaq Composite dropped 64.16 points or 1.75 percent, to 3,593.38.