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Sunday, November 27, 2011

impact euro zone debt crisis on gold prices

impact euro zone debt crisis on gold prices : Gold prices traded narrowly from 1666.28 to 1710.00 last week. Eurozone crisis is still the spotlight of media news since Germany strongly opposes the creation of Euro bonds.

Portugal and Hungary are both downgraded in credit ratings and plummets investors’ confidence. This week, we reckon that market will continue with neutral bias amid higher volatility in gold market.

The deadlock in Euro bonds proposal will keep Eurozone in coma, while Portugal’s meltdown might push gold prices to lower ends in coming weeks.

Gold prices jumped, impact euro rose november 28 2011
Gold jumped 1 percent on Monday as the euro rose on hopes Europe will take a bolder step to resolve a crippling debt crisis and after an Italian newspaper reported the International Monetary Fund was preparing an aid package for Italy. Read More

How will the Eurozone sovereign debt crisis affect Gold And Silver Prices- gold
The borrowing costs for France, Spain and many other Eurozone countries have soared to its peak, for example France debt is rising to approximately 87% of GDP, average yield on 10-year bonds in Spain has risen from 5.433% in October to 6.975%- reflected in the downfall of prices for Comex silver and gold. Silver closed lower by .63 at 33.82 per troy ounce. Read More

The Effect of Eurozone Problems on Gold Prices
Recently gold challenged its all time highs, being propelled largely by renewed concerns over the Greek debt crisis and the possible ramifications a default could have on global financial markets. Whilst fears of a possible default in Greece are supportive of gold prices in the short term, it is important to understand that such pressures are largely temporary in nature and they do not significantly change the underlying market dynamics in the longer term. Read More

EuroZone Crisis Continues to Impact Gold Prices
The US dollar continues to rise as investors choose cash over gold as their main safe haven. Further bad news from Eurozone has not helped gold prices. Other than German bonds, yields on all the other European government bonds are on the rise as the fear of Eurozone debt contagion prompts investors to sell. Increases in the sale of government bonds is not limited to southern tier European countries like Italy and Spain, but includes debt for financially healthier northern tier countries like Finland, Netherlands and France as well. Read More

Gold Price Could Go to Infinity on Eurozone Debt Crisis Contagion
Risk has returned with a vengeance as Italian debt markets have gone into meltdown leading to falls in European equity indices. Gold remains near a seven week high and has risen to above EUR 1,305/oz due to the deepening Eurozone crisis and contagion risk. Read More

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