Gold Could See $1,800/oz On Seasonal Strength And Deepening Eurozone And U.S. Debt Crisis
by Tyler Durden
From Gold Core
Gold Could See $1,800/oz on Seasonal Strength and Deepening Eurozone and U.S. Debt Crisis
Gold is trading at $1,504.13/oz, €1,039.34/oz and £933.89/oz.
Gold is higher today and showing particular strength against the euro and the Japanese yen. The relief rally seen in equities since the latest Greek ‘bailout’ is under pressure as S&P have said the debt rollover proposal would be a “selective default”. The ECB may selectively reject the S&P Greek downgrade and arbitrarily select the best credit rating being offered.