Strong Economic Data Trip Gold

Stock quotes in this article: IAU , GLD , FCX , AEM  

A classic recession is typically defined as a contracting economy for two or more consecutive quarters.

Last year, Roubini had forecast a yearlong recession for 2007 and has steadfastly remained one of the most bearish commentators on Wall Street.

In the gold patch, the Chicago Board Options Exchange Gold Index was declining 2%, dragged down in part by a 2.6% drop in Freeport-McMoRan Copper & Gold(FCX Quote) and a 4% loss for Agnico-Eagle Mines(AEM Quote).

Freeport was suffering from falling copper prices, which shed 8 cents to close at $2.49 a pound on the Comex.

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Dow Jones S&P 500 NASDAQ 10-Year Note
10,270.47 1,093.48 2,167.88 34.29
Oil *
75.55
UP
73.00
UP
6.24
UP
18.86
DOWN
0.17
10 Yr
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SPDR Gold
109.74
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