time to buy gold
Europe Drives Gold Prices This Week, But Don't Lose Sight of Long-Term
Gold prices managed to eke out a slight gain Friday to move back above the $1,560 a troy ounce mark - but the precious metal has had a less-than-stellar run this week, on track for a 1.9% loss.
In London trading Friday, the spot gold price was up 0.4% at $1,563.71, bouncing from as low as $1,533.41 earlier this week.
The upward move in gold came as the euro rebounded some from two-year lows against the dollar. The euro inched up from early lows against the dollar Friday, although sentiment around the troubled...
Good News for Gold Prices: Commodities are Wounded, But Far From Dead
Greece is frozen in a political stalemate. Youth unemployment is running at over 50%. And there has been a $1 billion run on Greek banks.
From near and afar, there appears to be no easy way out, especially now that the Eurozone is heading back into a recession.
It's times like these when investors pour into the U.S. dollar for its "perceived safety."
With commodities priced in U.S. dollars, this spike in the greenback has sent...
Gold Prices and the "Grexit" Effect
Lately gold prices have been affected by a strengthening dollar resulting from troubles overseas.
On Tuesday, Greek Prime Minister Lucas Papademos told Dow Jones Newswires that considerations were being made for a potential exit by Greece from the euro. He also warned that such an exit would be "catastrophic" for the country and that fallout across the entire Eurozone would be severe.
Concerns over what will happen...