Business activity in the U.S. expanded more than forecast in September, reaching a four-month high and adding to signs of a rebound in manufacturing that will help underpin the world’s biggest economy.
Manufacturing grew less than forecast in March as orders and production cooled, highlighting the risk of a U.S. economic slowdown this quarter as federal budget cuts take effect.
Comex gold futures beat most of the other major markets and rose 10.4% in Q3 this year, the second largest quarterly increase since the 11.91% jump in Q2 2010.
Although many investors buy gold when energy prices climb in fear that inflation will follow, recent trends indicate the reverse correlation is no longer as influential.