Thursday, February 5, 2015

Greece Softening On EU Exit Hurts Safe-Haven Gold Bid – Peter Hug | Kitco News

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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