U.S. data douses equity rally, gold down 4 percent
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Posted On: 04/15/2013 1:56:36 AM
U.S. data douses equity rally, gold down 4 percent
By Herbert Lash NEW YORK (Reuters) - Commodities sold off on Friday, with gold sinking more than 4 percent to break below $1,500 an ounce, while world equity markets fell after a dour reading of U.S. consumer sentiment and poor retail sales reinforced fears of a weak U.S. economy that would hurt global growth. Gold fell to its lowest levels since July 2011, hurt by a draft plan for Cyprus to sell gold reserves as part of its bailout by international lenders. Gold is now some 22 percent below the record peak of $1,920.30 an ounce set in September 2011. Despite the sell-off in commodities, U.S. ...
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