Fear crept out of the markets today and buyers came back. The S&P 500 was up 1.07% and the S&P TSX was up less than 1%.
Gold futures rose to $1,652.50/oz, up 3.6 percent. On Monday, gold went as low as $1,535/oz.
The overnight stock markets were also up. The Hang Seng Index was up 4.15% and the S&P ASX closed 3.64% higher.
The markets responded to preceived progress on addressing the euro zone crisis. Chancellor Angela Merkel is lobbying German lawmakers for a key vote on Thursday to support the European Financial Stability Facility. The measure, a bailout fund, is expected to pass. The Greek parliament recently passed unpopular austerity measures, including an increase in the property tax.
