| The dollar gold price still has room to move lower, below $1,000/oz for a short period of time, Natixis analyst Bernard Dahdah told Platts Monday. In an email Dahdah said that, "even under the stress of the situation in Greece, the price of gold hasn't benefited much. The market is fixated on the potential interest rate hike by the Federal Reserve. As we get closer to this hike so we expect gold prices to drop gradually."
Gold benefits from a low interest rate environment as a non-yielding asset class. The turmoil in Greece, where a potential default on national debt and in turn possible exit from the eurozone has had a near-zero knock-on effect to the gold price in dollar terms...............................................Full Article: Source
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