Market Overview

Gold and Stock Markets Closed for Hurricane Sandy, Reports Certified Gold Exchange


The strengthening 900-mile wide nor'easter, Hurricane Sandy, dubbed “Frankenstorm” has caused gold and stock markets to remain closed on Monday¸ along with massive evacuations across the East coast.

New York, NY (PRWEB) October 29, 2012

The perfect storm is on the verge of striking the East coast, causing closures of the gold and stock markets along with thousands of evacuations and delayed flights. Hurricane Sandy, dubbed “Frankenstorm” is a 900 mile super-storm threatening over 50 million people on the East coast of the United States. The New York Stock Exchange and New York Futures Exchange will remain closed Monday and will reopen upon further notice, depending on the state of the storm. According to Duncan Niederauer, chief executive of the New York Stock Exchange's parent company, stock and future markets will need to open on Wednesday regardless of damages because options expire on the last day of every month.

Arthur McGuire, Vice President of the Certified Gold Exchange says “Hurricane Sandy is unique because it is a nor'easter, or a hurricane that collides with winter storms and cold fronts, creating a more powerful storm. Despite closures of the gold and stock markets, the Certified Gold Exchange will continue purchasing and selling gold until further notice. Our prayers go out to the people who will be facing Hurricane Sandy this week.”

McGuire adds “Because of the hurricane, the gold price has not risen since Friday, and it's currently trading around $1,710 per ounce. This has sparked a unique opportunity for investors who want to purchase gold while prices are low.”

The Certified Gold Exchange, Inc. (CGE) is North America's premier precious metal trading platform backed by a solid PriceMatchPlus® Guarantee. They provide both institutional and household investors with real-time quotes and instant liquidity when buying or selling gold, silver and platinum products. For more information, call CGE at 1-800-300-0715 or visit today.

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