Stock Market: Gold Rises, Stocks Fall, Treasury to Cut Auction

Markets seemed to shrug off Washington's failure today to arrive at a single plan for dealing with the U.S. debt ceiling. As Republicans and Democrats continued to pursue separate solutions, the world's stock markets remained calm -- if a bit depressed. Major exchanges all closed down slightly. The Dow was down by 0.7 percent, the S&P 500 by .56 percent. Only gold and the Swiss franc strengthened. Gold closed up 0.86 percent percent. Futures for the precious metal earlier in the day hit a...Full Story
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