Stocks in Europe rose Wednesday, defying declines in the U.S. and Asia, as investors awaited potential new action from the Federal Reserve to kick start the world's largest economy.]
In a sign of the wild movements seen on financial and commodities markets in recent weeks, the price of gold, which had surged in recent weeks as investors fled into save-haven assets, plummeted 4.4 percent to $1,779, more than $100 below a new record reached just days ago.
Markets are likely to continue fluctuating ahead of Friday's speech by Fed Chairman Ben Bernanke at an economics conference in Jackson Hole, Wyoming. Investors hope Bernanke will signal a third round of massive bond-buying to boost the faltering U.S. recovery.
For more: Europe stocks defy declines in US, Asia - BusinessWeek
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