Knowing that investors moved towards low yielding assets with European stocks snapping the gains. The news reports suggested that Standard & Poor’s is set to downgrade the credit rating of several euro zone nations according to government sources, and that overshadowed the upbeat Uni. of Michigan Confidence index.
Now, eyes will be spotted on this year, and the performance of the European economy, especially after the ECB lent the European banks huge amount of money, and if that money will help the euro zone to continue recovery process amid big challenges.
Accordingly, we should expect more fluctuations for gold, but should the current pessimism persist, we should expect gold prices to extend the rallies, however, the level of uncertainty is very high, and investors are ought to remain cautious. Source fxempire.com For the latest updates PRESS CTR + D or visit Stock Market news Today
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