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16 March 2011

Gold Price Recovers $1,405 as Japan Events Knock MENA un-rest and Portugal Debt Downgrade off the Front Pages.

As Japan Earthquake and Nuclear Fears Dominate the Headlines, Bahrain Unrest Closes Stock Market & Banks, And Moodys downgrades Portugal Debt

Gold has recovered $1,405 in London trade this morning as news events generated conflicting pressures on the bullion price. Risk aversion in the market due to Japanese events was largely balanced by a downgrade of Portuguese debt by Moodys, and escalating unrest in Bahrain causing the closure of the local stock market and banks.

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