Tuesday, May 3, 2011

U.S. Factory Orders Rise 3.0% In March

Perhaps the recovery isn't as threatened as recent data had indicated. The Commerce Department reported that U.S. factory orders, after sinking slightly in February, jumped 3% in March. Expectations were for a 2.2% rise.

Gold didn't take very well to the news when it was released at 10 AM ET. After sliding back down to $1,537, the metal jumped up to $1,541 just before the news was released. After pausing, it sunk to $1,535 as the greenback took some heart from the news. Later, the metal stayed stuck in the 1530s as its stumbled up and down.

No comments:

Post a Comment