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Wednesday, December 19th, 2018 - Buy Gold - Bringing you trusted gold news and gold investing information since 2006

Gold Rebounds for Second Straight Day on Eurozone Cues

The price of gold rebounded on Monday after it suffered losses last Friday. Gold traded higher Monday on the hope that the leadership of the European countries are striving to find solution to the protracted debt crisis the continent of Europe has been struggling with and as at today, Tuesday, the price of gold remains steady as it continues to gain momentum amidst it rising demand globally.

On Monday, gold got a boost as it gained about 2% upon the recognition that many European policymakers are putting more efforts into solving the debt crisis which had plagued the Eurozone nations for more than twenty four months now.

Though the price of gold inched up higher last week to reach $1,718.48 it fell on Friday to $1,679.15. As at today, the price of gold has inched up by 0.16% to attain $1,714.60 per ounce.

It could be surprising to see many investors snapping up gold after it had almost lost its safe-haven status by displaying the features similar to risky assets in the past couple of months. Jeremy Friesen, one of the Hong Kong commodities strategists said they were having their focus on gold to have a bullish run knowing that the solutions to the perennial economic challenges would require very intense monetary policy applications which will guarantee upward price gain for gold.

Friesen was optimistic that the price of gold will go up higher in 2012 when the effects of the application of monetary policies will favor increases in its price though ‘’much may not be seen now that the year is fast running out’’ according to him.

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