28 December 2010

Gold Price Gains Traction on Renewed Euro Sovereign Debt Concerns

Gold rises $20 through $1,400 per troy ounce lifting white metals with it.

Euro zone sovereign debt worries trumped concerns over monetary tightening in China on Tuesday, helping Gold rise $20 through the $1,400 per trounce mark. Many traders remained out of the market as the London market remained closed for a public holiday.

While gold climbed, the greenback fell against the yen and euro, helping investors appetite for hard assets. Commodities faired well, with Oil, Copper, and Silver all moving higher with the Gold price.

With the Christmas holiday over, traffic at BullionSupermarket.com saw interest in Gold and Silver returning to more usual levels 1 Kilo Gold Bars trading at an average of 7.8% over fix.


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