S&P Surges - Gold Plunges as Reid Signs Off on Debt Deal
Gold Plunges as Reid Signs Off on Deal
GoldAlert
by GoldAlert Staff
Gold plunged nearly $20.00, sinking as low as $1,607.50 per ounce, after Sunday’s news that Senate Majority Leader Harry Reid approved a tentative agreement with leaders of the House of Representatives and the Obama administration to raise the U.S. debt ceiling.
Approval by Senate Democrats is still necessary to cement a deal, but it appears that the debt ceiling will be raised and a default averted.
S&P 500 stock futures surged, climbing 12.00 to 1303.60 and crude oil futures rose over 1% to $96.70 per barrel.
Source: http://www.goldalert.com/2011/07/gold-p ... f-on-deal/