Risk taking in the marketplace due to positive euro-zone news sent the price of gold up more than $25 an ounce yesterday. A bullish euro typically leads to gains for gold, as it becomes cheaper for international buyers. The precious metal peaked at $1605.83 during mid-day trading before staging a mild downward reversal to stabilize at the $1602 level.
Today, gold traders will want to continue monitoring any developments in the euro-zone, particularly with regards to bond yields in Spain, which recently soared due to aid requests from several regions in the country. Should the euro once again turn bearish today, the price of gold could fall as a result.
Today, gold traders will want to continue monitoring any developments in the euro-zone, particularly with regards to bond yields in Spain, which recently soared due to aid requests from several regions in the country. Should the euro once again turn bearish today, the price of gold could fall as a result.
News Archives
| 25.07.2012 | Gold Sees Mild Gains despite Risk Aversion |
| 24.07.2012 | Strengthened USD Weakens Gold |
| 23.07.2012 | Gold Stabilizes Following Russian News |
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