Greece

New Greek Crisis “Biggest Risk for Gold”, Bank of England “Has Left Door Open” for More QE, Goldman Sachs says “Long Gold Position Recommended”

February 22, 2012 (Vietnamica) — U.S. dollar gold prices held steady just off $1760 an ounce during Wednesday morning trading in London, after a rally in Tuesday’s US session saw gold climb 1.3%. Silver prices softened slightly but held above $34 per ounce – having through that level on Tuesday following the Greek bailout announcement. Stocks and commodities edged lower this morning, while government bond prices gained.

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Default Threat “Will Keep Coming Back” in Despite Greece Bailout Agreement, Gold Trading Volumes Rise in London But Imports by India May Decline

February 21, 2012 (Vietnamica) — U.S. dollar gold bullion prices spiked to $1747 an ounce Tuesday lunchtime in London – a 1.3% gain on last week’s close – as US Markets re-opened to the news that European finance leaders have agreed to bail out Greece. Silver bullion also spiked, hitting $33.97 per ounce – 1.9% up on the start of the week.

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CFR: Eurozone Approves New Greek Bailout

February 21, 2012 (Vietnamica) — Eurozone finance ministers agreed to a new $172 billion bailout package (WSJ) for Greece early this morning, along with a 53 percent write-down of Greek debt by the country’s private sector creditors. The plan is expected to reduce Greece’s debt burden from 160 percent to 120.5 percent of GDP by 2020. The European Central Bank also agreed to indirectly help Greece by distributing future profits on its holdings of Greek bonds bought on the secondary market. Under the agreement, the European Commission would have an “enhanced and permanent presence” in Athens to monitor the...

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Gold’s “Consolidation Phase” Continues, “Time to Deliver” for Euro Leaders, China “Shows Growth is Priority”

February 20, 2012 (Vietnamica) — Wholesale market gold bullion prices held above $1730 an ounce in Monday morning’s London trading – roughly in line with where gold has been for much of February – while European stocks and commodities edged higher amid hopes that policymakers might finally approve Greece’s second bailout. US markets are closed for a holiday.

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Gold Demand Trends Show Chinese Growth, Indian Weakness &Revival of US Consumers as Fresh Greek Rumors Dent Euro

February 17, 2012 (Vietnamica) — Wholesale market prices to buy gold bullion slipped further on Thursday in London, falling to a three-week low beneath $1709 per ounce as a raft of positive US data buoyed the Dollar, and fresh rumors broke of a Eurozone exit for Greece. Last night’s phone-conference of Euro politicians said that Greece must accept extra budgetary oversight if it is to get the extra bail-out funds to meet March’s critical bond-repayment deadline.

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Euro Crisis “Still Supporting Gold” as Germany’s Concerns Grow over Greece’s Second Bailout

February 16, 2012 (Vietnamica) — Spot market gold prices rose to $1732 per ounce Wednesday lunchtime in London, slightly above where they started the week, as European stock markets dipped amid ongoing uncertainty over Greece’s second bailout. Silver prices tested $34 per ounce – 1% above last Friday’s close.

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