The Correlation Reverses, In The Other Direction

Last Friday, the recent positive correlation between gold and U.S. stocks reversed, to the benefit of the stock market. This afternoon, though, the correlation has gone negative to the favor of gold.

As of the time of this post, the Dow is down 0.09%, the S&P 500 is down 0.22%, and the NASDAQ is down 0.29%. On the other hand, gold bottomed at the US$1140/oz range this morning and climbed back up to $1160 at about 1:30 PM ET. As of the time of this post, it's down but still above the morning low range. Spot gold's at $1155.70.