Gold Prices Weakening on Eurozone Concerns
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 "Price of gold"
Gold Price Declines on European Central Bank Decision
As apprehension about Spain's ability to finance its debt mounts, gold prices declined this week following a drop in the euro and a rate decision from the European Central Bank.
Gold Prices Higher on Federal Reserve Chairman’s Remarks
Gold prices started off the week trading higher based on Monday’s news that Federal Reserve Chairman Ben Bernanke believes the United States' economy has to grow more quickly to reduce the unemployment rate. Overall, spot market gold prices have appreciated slightly by about 0.7 percent this week.
Gold Price Lower on Federal Reserve Comments
It has been a volatile week for gold prices, most heavily influenced on Wednesday after United States Federal Reserve Chairman Ben Bernanke gave no hints that a third round of quantitative easing was expected in the immediate future.
Gold Prices Increase on Bank of England Rate Decision
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.
Gold Prices Higher on Positive US Economic Data
Gold spot price has climbed nearly 12 percent so far in 2012, supported by positive economic data and monetary policy guidance in the US.
Centerra Gold Sees Continued Pressure From Wage Inflation, Higher Oil Prices
Centerra Gold sees continued pressure from wage inflation and higher oil prices in 2012. VP of Investor Relations John Pearson said they are trying to cut costs and increase efficiency.
Can Gold Help to Resolve the Eurozone Debt Crisis?
Debate over the potential of extensive gold reserves held by central banks to resolve the euro zone's economic problems have been pervasive in recent months just as fear of exposure to the sovereign debt crisis has grown. In fact, reports of the German central bank liquidating some of its gold reserves for the first time in almost a year have surfaced, selling 150,000 troy ounces in October.
Gold Price Supported by Currency Values
Gold investment is becoming more accepted as a substitute for currency by industry observers, particularly in light of the context of all four major currencies experiencing structural debasement.
Central Banks Continue to Buy Gold
Even as spot market gold prices have traded at historical highs over the past few months, central banks are increasing positions and demonstrating support for the precious metal.
