Gold Retreats as Eurozone Members Come to Debt Agreement
After last weeks gains, gold investors remained cautious ahead of the Eurozone summit on Wednesday night. Though some profit taking was seen through Monday and Tuesday morning, losses had all but been reversed as a lack of news from the summit caused a little nervousness in the middle of the week.
However, when the news did break, it was seen as broadly positive for investment markets and negative for the precious metals as money… Continue reading
December 11th, 2011 | Posted in Gold Investing | No Comments
The price of gold got a boost today in trading when the news filtered out that the Eurozone leaders, at their crucial meeting in Brussels, had reached an agreement on adopting more stringent fiscal principles for the Eurozone in a bid to resolve the debt crisis which has been affecting the continent for the past two years.
The euro gained in trading today against the US dollar which helped gold to appreciate in price but some analysts have observed that at 0.7 per cent price gain at which the yellow metal inched up early today, gold… Continue reading
December 9th, 2011 | Posted in Gold Mining | No Comments
Gold finished the month a little better than at the end of October, managing to post a modest gain of just under 1.5% on the month
The month started with strong gains made as the the surprise announcement of a referendum – on the Eurozone bailout plans – by Greek prime Minister Papandreou spooked equity markets. German and French leaders were furious at the decision, which seemed to throw the whole future of the EFSF and the Eurozone into doubt.
Chinese economic data… Continue reading
December 4th, 2011 | Posted in Gold Investing | No Comments
Gold Breaks Losing Streak Amongst Centralised Action And Confusion
After two weeks of falls, gold finally finished a week in positive territory, ending at $1746.10 and around 3.6% better than last week’s closing level. The move was boosted by concerted central bank action that may have bought time for Europe to sort out its problems, though Germany’s Merkal now believes it will take years to do so.
The central bank action saw the US Fed, Bank of Canada, The Banks of England and… Continue reading
December 4th, 2011 | Posted in Gold Investing | No Comments
