Quantcast
Other Stories

The eurozone debt crisis remains at the forefront of investor’s minds. Against this backdrop, the gold price remains well-supported.

10 Oct 2012

NEW YORK (Commodity Online): The stronger US dollar is putting pressure on gold’s price as the yellow metal has retreated from testing the $1,800 level, said Commerzbznk, the second largest German bank after Deutsche Bank.

Yet they do not believe gold will be subject to further losses based on continued demand for the metal, particularly from exchange-traded funds.

Over the past two days, ETF holdings rose 13 metric tons as investors buy up gold because of ultra-loose monetary policy of central banks, the German bank added.

“The eurozone debt crisis remains at the forefront of investor’s minds. Against this backdrop, the gold price remains well-supported,” Commerzbznk concluded.


YOUR RESPONSE
Click on the image to reload it
Click to reload image
COMMENTS (0)

@2013 COMMODITYONLINE ALL RIGHTS RESERVED