20.12.2012 - Jim Roger sees 'overdue correction' hitting gold
Prices to buy gold with dollars rallied from their lowest levels since late August on Wednesday morning in London, recovering 0.7% from yesterday's drop to $1,662 per ounce. The drop came as Greece was upgraded Tuesday by the S&P ratings agency from "selective default" to "junk" status, following payment of the latest €34.3 billion in new loans from Greece's euro-zone partners. Versus the dollar the euro leapt to its highest level since May. The gold price for euro-zone investors sank to €1255 per ounce – a six-month low almost 10% beneath October's new record high...............................................Full Article: Source
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