Tuesday, March 13, 2012
S&P Priced in Gold
The S&P 500 and Gold are curiously divergent for the day of a Fed meeting. One would think that if the Fed signaled more accommodation both might rally, and if more hawkish both might fall. Despite the divergence and gold's underperformance since September, the S&P still hasn't recovered fully from last summer's drop when priced in gold.
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