Gold – Last year gold was seen as a safe haven that could mitigate exposure to the European debt crisis, but it is now trading in line with more traditional drivers.
Articles Tagged "austerity measures"
Gold – The Bank of England preserving its official Bank Rate paid on reserves at 0.5 percent helped the spot market price of gold to climb to $1747.50 per troy ounce. Gold prices were further supported by the Bank's vote to inject another 50 billion pounds into its financial system along with news of Greek leaders finally negotiating a deal on fiscal reforms.
Commodities are gaining ground as Italy and Greece exert political leadership to get their finances under control. But worries about risks remain.