Fri, Feb 27, 2015, 9:12 PM EST - U.S. Markets closed

Recent

% | $
Quotes you view appear here for quick access.

SPDR Gold Shares Message Board

you are viewing a single comment's thread.

view the rest of the posts
  • buz_idea20 buz_idea20 Mar 5, 2012 8:15 AM Flag

    GOLD is $880 at most.

    The euro also saw some modest pressure on sentiment after a final euro-zone composite purchasing managers index reading for February came in weaker than initially estimated, underlining worries the regions economy is on track to contract for a second straight quarter. Read Market Pulse on euro-zone PMI.

    Meanwhile, worries that Greeces debt swap won't attract sufficient volunteers is also a negative factor for the euro, strategists said. Failure to see investors tender around 90% of outstanding, privately-held bonds by Thursday could see the triggering of clauses that would force all private investors to participate in the write-down effort.

    That, in turn, would likely be ruled a “credit event by an international derivatives body, triggering the payout of derivative instruments known as credit default swaps, strategists said.

    The prospect of a payout on the swaps is little reason for a selloff, noting that net exposure appears manageable and is unlikely to fan contagion fears.

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Although extreme risk aversion was a key factor lifting gold last year at a time when the dollar was strengthening, it has since reestablished its usual inverse relationship to the U.S. unit as investor appetite for the dollar as a safe haven outweighed that for gold, and as panic in the markets subsided.

      From a technical perspective, analysts said gold is vulnerable to further losses after last week's rout, particularly if prices break through $1,690 an ounce. Gains in the dollar, which make commodities priced in the U.S. currency more expensive for holders of other currencies, are pressuring the metal.

 
GLD
116.16+0.09(+0.08%)Feb 27 4:00 PMEST

Trending Tickers

i
Trending Tickers features significant U.S. stocks showing the most dramatic increase in user interest in Yahoo Finance in the previous hour over historic norms. The list is limited to those equities which trade at least 100,000 shares on an average day and have a market cap of more than $300 million.