The strength of the dollar may well be a key factor in determining price action over the coming days. As investors flee the Euro and buy the US Dollar, the correlation between the greenback and gold prices will be back in focus. The price of gold is currently treading water at the $1,100 level as markets wait for clarity on the Greek situation.
Gold & Silver
- Euro is at the forefront of investors thoughts as it hit one-month lows against major currencies following talk that Germany and France are keen to bring in the IMF in to the Greek bailout. The two day summit in Brussels starts tomorrow, and as we near these talks, we are still no clearer on how the eurozone states plan to help the Greeks.
- Sterling watchers should note that the UK Budget is scheduled to be released this afternoon.
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