19.06.2015 - Spot Gold Rising but Safe-Haven Buying is Absent
Spot gold prices are moving higher, trading up 1.4% at $1,202.43/oz, as news the Fed will not raise interests rates this month continues to weigh on the U.S. dollar. However, the market has yet to get into the mood for safe-haven buying, despite further difficulties in talks between Greece and its eurozone creditors. “We haven’t seen a great deal [of safe-haven buying] so far,” says Jonathan Butler, a precious metals strategist at Mitsubishi. The fact that on a number of occasions the European Central Bank and the troika “have simply kicked the can down the road regarding Greece’s debt” has made traders cautious as “it could well happen again,” he says...............................................Full Article: Source
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