gold rises as worries over debt crisis persist
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Gold rises as worries over debt crisis persist

Arab Today, arab today

Arab Today, arab today Gold rises as worries over debt crisis persist

London - Arabstoday

Gold rose 1 per cent yesterday, erasing early losses, as reservations over this week's bailout plan for debt-laden Greece and concerns over negotiations to raise the US debt ceiling lifted interest in the metal as a safe store of value. The precious metal retreated from this week's record high at $1,609.51 (Dh5,911.65) an ounce after European leaders agreed a rescue package for Greece on Thursday, boosting appetite for assets seen as higher risk, like stocks, at the metal's expense. However, it has since rebounded as investors moved back into safe havens like gold, German bunds and the Swiss franc as they digested the details of the plan. 12 per cent rise Spot gold rose as high as $1,604.81 an ounce and was up 0.9 per cent at $1,602.50 an ounce at 1.20pm GMT. Prices have risen more than 12 per cent so far this year. The German Bund future turned positive as enthusiasm over the Eurozone rescue plan gave way to concerns it will not be enough to get the heavily-indebted country back on a sustainable fiscal path and ring-fence contagion. "While yesterday's agreement was as comprehensive as it could possible be, many legal and political issues need to be ironed out and the crisis is far from solved," said Swiss bank UBS in a note. "Although gold could lose steam in the short term, Europe will remain a primary catalyst for further gains over the medium term. That gold hasn't reacted to any great extent suggests that many investors are not fully convinced by yesterday's developments." from / Gulf News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

gold rises as worries over debt crisis persist gold rises as worries over debt crisis persist

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

gold rises as worries over debt crisis persist gold rises as worries over debt crisis persist

 



GMT 12:48 2016 Sunday ,27 November

Cilic, Dodig push Croatia to brink of Davis Cup

GMT 05:24 2017 Thursday ,28 December

Erdogan says 'terrorist' Assad cannot be part of Syria

GMT 12:59 2016 Saturday ,05 November

WB welcomes economic reforms in Egypt

GMT 18:40 2016 Saturday ,05 November

Egyptian GDRs in London down

GMT 10:57 2017 Wednesday ,06 December

Peru striker Guerrero has doping ban extended

GMT 17:51 2017 Tuesday ,07 March

Trump Signs New Travel Ban on Six Muslim Countries

GMT 10:30 2017 Wednesday ,06 September

Saudi Information Ministry praises media role during Hajj

GMT 15:29 2017 Tuesday ,24 January

Mind games really do help your brain

GMT 06:55 2015 Thursday ,01 October

Boston Red Sox beat Yankees

GMT 08:17 2017 Monday ,28 August

Bahrain celebrates World Humanitarian Day 2017

GMT 02:07 2017 Tuesday ,28 February

Opposition seeks Russian support at Syria talks
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday