08.07.2015 - Markets hedge gold bet on US Fed
In 2011, when Europe was spiralling into crisis, gold soared, helped by the perception of US dollar “money printing” by the US Federal Reserve. Last weekend, Greek voters cleaved a serious schism in the eurozone facade, threatening the stability of the world’s second-biggest economic block. But instead of roaring higher, gold barely whimpered as it slipped to near five-year lows. “The lack of influence that the euro crisis is having on gold is particularly noteworthy as the yellow metal continued its recent price decline, underlining again how gold’s main role in financial markets at present is as a proxy for the timing and likelihood of a Fed rate hike,” Barclays commodity strategists said...............................................Full Article: Source
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