As if the drop for March wasn't enough, the University of Michigan/Thomson Reuters Index of consumer sentiment has been revised downwards. The initial reading was 68.2; the new reading is 67.5. Although that reading is the lowest in five months, it matched expectations.
Gold was already recovering from a trough below $1,432 when the revision was released, but the lowered number added to the metal's gains. The run around the release time of 9:55 AM ET took it well above $1,435; it peaked just after 10:38 at $1,438.
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