Saturday, 11 February 2012

Gold Falls on Uncertainty Over Greek Bailout

Gold fell on Friday, following losses in the euro and U.S. equities, as uncertainty over negotiations on a bailout package for Greece prompted investors to sell the metal and hoard cash.
Bullion was on track for a second straight weekly loss, as a lack of concrete steps to avert a ruinous Greek default more than offset a rally earlier this week fueled by the U.S. Federal Reserve's outlook for near-zero interest rates in the long term.

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