USD Fell on Profit-Taking, Sending Gold and Equities Higher

Wall Street rebounded as the US dollar retreated across the board on profit-taking. DJIA rose +1.47% while S&P 500 added +1.26%. The strength was despite the weaker-than-expected retail sales data for February. Gold traded with huge volatility, hinging on the greenback’s movement. While initially rising to 1165.7 and then falling to 1147.5, the benchmark Comex contract ended the day modestly higher at 1151.9, up +0.11%.

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USD Fell on Profit-Taking, Sending Gold and Equities Higher