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Gold Stabilizes Following Last Week's Bearish Fall
Tuesday, 17 Jan 2012
Gold
Gold Stabilizes Following Last Week's Bearish Fall
The price of gold steadily increased yesterday as European stocks saw slight gains following the downgrade of several euro-zone countries last week. Gold, which has had a mixed reaction to the European debt crisis, moved above the $1640 level during yesterday's trading.
Today, the price of gold will likely be determined by euro movements. In the event that any negative euro-zone news is released, gold may give back yesterday's gains as investors revert back to the safe-haven dollar. At the same time, should the German ZEW Economic Sentiment come in above expectations, there may be some room for further bullish movement.
