The Stock Market Rally Has Disappeared, And Gold Is Surging
Aug 8, 2013, 19:58 IST
U.S. stocks have been falling since the opening bell at 9:30 AM ET, erasing nearly all of the rally in the futures overnight.
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The S&P 500 index has closed in the red for the past three days in a row. Right now, it's up only 0.1%, trading at 1692.
The dollar is dropping fast against the euro and the yen, and gold and other metals are surging.
The shiny yellow metal is up 1.4%, trading around $1304 an ounce, while silver is up 2.9%, platinum is up 3.1%, and palladium is up 2.5%.
The chart below shows S&P 500 futures.
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The next chart shows gold futures.
