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U.S. Stocks Rise as Gold Rebounds While Treasuries Drop

Summary:

  • The Standard & Poor’s 500 Index gained 0.6 percent at 10:41 a.m. in New York, rebounding from the biggest drop in five months.
  • Gold jumped 2.4 percent, because the decline led to a buying opportunity.
  • The global economy will expand 3.3 percent this year, less than the 3.5 percent forecast in January
  • The reason Gold dropped the last two days was because triggered by speculation that Cyprus would sell its gold reserves, leading other European central banks to follow suit
  • The cost of living in the U.S. declined in March for the first time in four months as cheaper gasoline and clothing kept inflation in check.
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April 16, 2013

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