TeleTrade - Analytics

TeleTrade

400.50 6.75/10
50% of positive reviews
Real

Gold recovers | 04.02.2015

 

Gold prices are rising after the recession before, but growth is constrained by interest in risky assets on the background of negotiations with creditors Greece.

A day earlier, gold has fallen in price by 1.3% on hopes that the new Greek government will be able to reach a compromise with its international lenders on the terms of economic assistance.

The Greek government has signaled plans to revise the debt amounting to € 140 billion to its creditors, waive the requirement to take them off.

This decision concerns the market has weakened over the possible conflict that could force Greece to leave the euro zone.

Greek Finance Minister Janis Varufakis suggested "list of debt swaps" to ease the debt burden of the country, according to which creditors are invited to exchange debt for new bonds tied to economic growth. This may help reduce the risk of

"The willingness to take risks, apparently growing, causing a flow of funds out of safe assets - yen and gold - in more risky - stocks and the euro. If there will be no adverse events, all the less likely it is that in the near future gold returning to more $ 1,300, "- wrote in a report Phillip Futures investment analyst Howie Lee.

Stocks of the world's largest gold ETF-secured fund SPDR Gold Trust on Tuesday declined to 24.59 million ounces at a maximum level since October 24.65 million ounces a day earlier.

April futures price of gold on the COMEX today rose to 1273.30 dollars per ounce.



To leave a comment you must be or register