Gold Stabilizes Following Russian News
Monday, 23 Jul 2012
Risk aversion due to euro-zone news sent the price of gold tumbling close to $13 an ounce during the first half of the day on Friday. The precious metal eventually reached $1573.26 before correcting itself after Russia announced that it had boosted its gold reserves. Gold eventually closed out the week at $1584.25 an ounce. This week, gold traders will want to pay attention to news out of the EU and US. While the euro-zone debt crisis has resulted in prices falling in recent days, gold has the potential to see gains following a speech from Fed Chairman Bernanke on Tuesday. Should the Fed Chairman hint at a new round of quantitative easing in the US, the precious metal may turn bullish as a result.
News Archives
| 20.07.2012 | Gold Sees Moderate Gains amid Risk Taking |
| 19.07.2012 | Gold Sees Mixed Trading Day |
| 18.07.2012 | Gold Tumbles amid Risk Aversion |
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