- Analytics
- News and Tools
- Market News
- Gold recovers amid political turmoil in Greece
Gold recovers amid political turmoil in Greece
Gold prices recouped after yesterday's losses as a retreat in stocks, falling oil prices and a weaker dollar revived demand for the precious metal. Worries about the consequences of snap elections taking place in Greece in January further supported prices. Yesterday Greece's Prime Minister Samaras failed in the third and final attempt to have his presidential candidate elected by the Greek parliament.
At the moment gold is down 1.5% for the year 2014. A strong U.S. dollar fuelled by solid U.S. data, a rally in stock markets and expectations on a benchmark interest rate hike by the FED weighed on the metal. Higher U.S. interest rates would boost the greenback and would have an impact on the dollar-denominated metal as it becomes more expensive for holders of other currencies.
Trading volumes are expected to be low this week ahead of the new year's holiday which could lead to volatile and erratic markets. The precious metal is currently quoted at USD1,187.00, +0,26% a troy ounce.
GOLD currently trading at USD1,187.00
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
