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16.02.2012 16:35

Gold depreciates against the dollar strengthening

The price of gold falls against the dollar strengthening, associated with deferred a decision on the allocation of financial assistance to Greece.

On Wednesday, it became known that the Eurogroup agreed to discuss the issue of unblocking the second package of financial aid to Greece in the amount of 130 billion euros at the meeting on Monday, February 20. However, it is unknown whether financial assistance is allocated in whole or in part.

Investors are concerned that European politicians continue to put off the decision, while the period when Greece has to pay 14.5 billion euros of bonds or declare a default, is approaching.

The growth of the U.S. currency to the euro support and negative rating actions the agency Moodys for a number of financial institutions in Europe. On Thursday it became known that in the list for review with the possibility of lowering the ratings are placed 114 European banks and their subsidiaries. In addition, Moody's downgraded the financial strength ratings of five major European insurers, including the Italian Assicurazioni Generali SpA; downgraded the ratings of three more companies in the sector, including giants such as AXA SA and Aviva Plc.

The cost of the February gold futures on the COMEX today fell to 1707.0 dollars per ounce.

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