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The price of gold fluctuates on a background of negative rating actions the agency Moody’s for a number of European countries and the publication of the index of economic expectations in the euro area in February, which was significantly better than analysts' forecasts.
Investors reacted positively to reports that the index of economic expectations in the euro zone rose in February compared with January, by 24.4 points - down to minus 8.1 points.The index for Germany rose this month by 11.9 points - to 40.3 points. This indicator of investor confidence in the economy of Germany in February rose by 27.0 points to 5.4 points. Thus, the data were significantly better than forecasts of analysts who had expected to average growth rate for Germany to minus 15 points.
At the same time a negative factor in reducing the cost of precious metal, are the news from Europe, where on Monday night international agency Moody’s rating changed a number of European countries downward. Thus, the ratings of Italy, Spain and Malta downgraded to "A3", Slovenia and Slovakia - to "A2", the forecast - "negative". Ratings of Austria, France and Britain affirmed at 'AAA', outlook downgraded to "negative." Moody’s rating actions follow the assessment agencies Fitch and Standard & Poor's, which in January also reduced the credit ratings of several European countries.
At the same time, investors continue to feel the tension due to the unstable situation in Greece. On Tuesday, the British business publication Financial Times reported that European politicians can not decide to unlock the second package financial help Greece at a rate of 130 billion euros at the Eurogroup meeting on Wednesday because of the attitude of the authorities in Germany and the Netherlands, which still are critical in the matter Greece, another providing a package of loans.
The cost of the February gold futures on the COMEX is trading today in the range of 1715.2 - 1724.9 per ounce.
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