Rising Stocks, Commodities Trigger Turnaround in Euro
U.S. Equity Markets Called Higher; Appetite for Risk Rising
Stronger U.S. economic reports drove traders out of risky assets, putting pressure on both gold and crude oil. April Gold surged overnight to $1126.40 before backing down. This price was inside of a retracement zone at $1120.50 to $1131.40. The stronger Dollar encouraged traders to dump higher risk assets which weakened precious metals.