Gold managed to climb in late trading yesterday as the negative data releases from the U.S.. In early trading, gold was also overshadowed by concerns about economic conditions in the euro zone. Anti-austerity protests in Greece and Spain raised investors' concerns over the zone's ability to Contain the debt crisis. Recent moves in gold were in tandem with the moves in the Euro and correlation between both of them is above 0.96, the highest level since the start of this year.
Meanwhile, demand for physical gold in Asia remained stable, but is expected to soon rise at the beginning of next month owing to the festive and marriage based demand from the key consumer, India.
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