Gold is under pressure early this week as
Peter Hug takes a look at why, on this edition of For Pete’s Sake!
Touching on Greece’s newly elected left-wing government, Hug points out
that the safe-haven bid has been taken out of gold a little bit, due to
the party’s recently softened stance on distancing itself from the EU.
“Greece seems to be backing away from its aggressive stance and they’re
trying to negotiate some type of package that would allow them to be
less austere, but at the same time stay within the EU,” he says. Hug
also touches on whether or not gold prices are lacking fresh bullish
news, how the markets misread the Fed’s – deemed hawkish – meeting and
whether gold prices will be stuck in a range for the next little while.
Kitco News, February 3, 2015.
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