Friday, November 26, 2010

Gold Weakens as Dollar Gains on Europe Debt Woes


By: Reuters
Gold fell 1 percent on Friday as the dollar pushed to fresh two-month highs against the euro on worries that Ireland's debt crisis was spreading and on growing speculation of an imminent Portuguese bailout.
However, gold was underpinned by some modest safe haven buying amid investor nervousness over the European debt crisis after a newspaper report that euro zone nations were pressuring Portugal to follow Ireland's lead and seek a bailout. Portugal and Germany's finance ministry denied the report
read entire article

No comments:

Post a Comment

DAILY NEWS ON BOOZE