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15.05.2012 15:26

Gold is cheaper because of the uncertainty in Greece

 

The price of gold is reduced to the background of the continuing concerns about the political situation in Greece, which has not yet formed a new cabinet after the early parliamentary elections.

At the same time, despite the uncertainty in Greece, which has increased speculation about a possible withdrawal from the eurozone countries, the head of the Eurogroup Jean-Claude Juncker, said yesterday that such a question at a meeting of eurozone finance ministers (Eurogroup) on Monday was not discussed.

To limit the decline in gold prices helped the high demand from the jewelry industry of Asian countries - India, Thailand and Indonesia.

Earlier Tuesday, the value of the metal support provided preliminary evidence that the German economy in the first quarter of 2012 increased by 0.5% compared with the previous quarter. Analysts had expected German GDP in the quarter grew by only 0.1% over the fourth quarter of 2011.

The cost of the June gold futures on the COMEX fell today to $ 1546.8 an ounce and is currently trading at around $ 1552.1 an ounce.


 

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