19.03.2013 - Cyprus bailout worries push investors into gold
Worries about the Cyprus bank bailout drove investors into the safe haven of gold on Monday. Gold for April delivery rose $12, nearly 1 per cent, to $1,604.60 per ounce. News about Europe's bailout plan for cash-strapped Cyprus unsettled many investors, and all three major US stock indexes lost ground. Traders were surprised that the bailout plan included slapping a tax on deposits in the country's banks, essentially forcing anyone who keeps money in a Cypriot bank to take a "haircut," or a loss. ..............................................Full Article: Source
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