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Commodities Briefing - Categorized | Bullion/Gold, Market Moves more

Gold glitters

Posted on 01 October 2012

Just a few weeks ago, Mario Draghi, President of the European Central Bank (ECB), announced that he would do anything required to bailout the weakest members of the euro zone and in so doing prevent the euro currency from dissolution. Investors who may have been previously positioning themselves to withstand a euro crisis seem to be anxious to believe that such bold actions will prevent the worst.
Consequently, many unwound positions in US dollars and bought back euros. In the wake of the announcement, the euro rose from $1.22 to $1.30………………………………………..Full Article: Source


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