Gold under pressure
Gold shed more than 30$ from its price in recent days settling around 1,108$, as Greek debt woes and lower risk appetite loomed. Although in the FX arena the Dollar trade rather stabilized with the Euro and the Sterling rebounding from their lows Gold remained under pressure. China has been a dominant factor in the latest Gold selloff releasing a statement from Chinese officials that they prefer to buy US debt over Gold. China as the world’s largest Gold producer and the holder more than 2 Trillion