As fears re-emerged that the Greek's wouldn't be able to push through their austerity measures, the price of gold stepped back over the $1200 line, and is once again looking to challenge the highs of $1225. Yesterday's pullback has been forgotten, as the lure of gold as a safe haven once again came on the radar of traders.

Chris Hossain, ODL Securities

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Gold & Silver

Commodity

Level

Change

GOLD

$1,208.04

+$6.03

SILVER

$18.39

-$0.10

Market News

  • Hedge Fund manager John Paulson's recently launched gold fund jumped 10% in April as prices rallied.
  • Moodys Investor Services announced that they may still downgrade Portugal, and could further lower Greece to junk status
  • The rate of inflation accelerated in China during April as consumer and producer prices beat estimates
  • Fed members Lockhart and Plosser are both scheduled to be speaking in Atlanta this afternoon

Major Economic News

TIME

MARKET DATA

1500

US WHOLESALE INVENTORIES