The economic outlook in America is slowly turning optimistic as the current data shows. Weekly jobless claims fell to the lowest level since September 2008, while home sales, consumer confidence and personal spending topped estimates. These optimistic data has caused stocks and commodities to gain. These gains are also partially due the weakening of the greenback. The main reason for this is the fear that investors will perform carry trades (i.e. the buying of high-yielding assets using money borrowed from low interest rate nations).
Gold prices have soared for another reason as well. That is due to the news of India's central bank intention of stocking up on the bullion.
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