Gold futures for August delivery ended lower on Friday after stress tests showed that seven European banks were not strong enough to withstand another recession. The test showed that banks in Germany and Greece were weak spots and needed restructuring.
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Gold may reach new high amid fears of double-dip recession
The Guardian The World Gold Council (WGC) says gold is being buoyed by interest across the board: private investors are buying increasing quantities of gold coins and … Gold Steady as India's Summer Lull Begins, Greece Returns to Bond Market …BullionVault all 228 news articles » |
Source:Gold may reach new high amid fears of double-dip recession – The Guardian
GOLD, DOLLAR DROP: Gold prices and the dollar fell as investors jumped back into riskier assets like stocks after European leaders created a $1 trillion rescue fund for nations like Greece who are struggling with debt. Other metals gained.
Spot gold prices are continuing their ascent Friday afternoon.
Spot gold prices received a lift from the falling dollar and rising euro as markets anticipated a stronger debt-rescue package for Greece.