Tuesday, December 6, 2011

Potential Downgrade of the European Zone Affects Gold Price

A negative sentiment came again from the European zone, rating agency S & P puts ratings of debt Germany, France, and several countries in the euro zone into credit watch negative, a stage prior to the decline in ratings.

Of course the news was making conditions in the regional bourses depressed and fell into the red zone. Attenuation is quite deep, led by the Hong Kong stock exchange.

This news also affects the price of gold. Gold moves in and out of positive zone related to investor anxiety after Standard & Poor's put 15 of the 17 countries in the European zone of potential downgrade. Analysts predict that prices will move volatile ahead of the European Union meeting this week.

EUR / USD at 1.3365 vs 1.3400 late Monday in New York. Spot gold was at $ 1,721.60 / ounce, down $ 1.60, while silver at $ 32.09/ons, up 1 cent, platinum at $ 1.521 / ounce, up $ 5 from its closing level while palladium was at $ 632/ons.

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