Stocks Sputter, Gold Soars

Markets still buffeted by uncertainty, looking for good news
By Mark Russell,  Newser Staff
Posted Aug 22, 2011 2:44 AM CDT
Currency traders work near the monitor screens showing the falling Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room earlier today.   (AP Photo/Lee Jin-man)

(Newser) – Asia stock markets were mostly down today, European markets look set to follow, and gold hit new highs as world markets continued to be rocked by investor nerves, reports Reuters. The Nikkei hit a five-month low, finishing 1.04% down, Korea's Kospi was off 1.96%, and Australia's All Ordinaries declined 0.51%. "The sentiment of markets is very weak at the moment," said a Hong Kong trader.

European markets opened mixed, but were largely down, too, as investors await new data and debt issuances coming tomorrow. Meanwhile, gold hit a record $1,878 per ounce, as investors looked for a safe spot in the midst of so much uncertainty.

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