Gold Prices Euro

February 20, 2012 by staff 

Gold Prices Euro, Gold prices rose more than half a percent on Monday as growing optimism that European leaders will sign off on a rescue deal for Greece lifted the euro, and after China’s central bank further loosened monetary policy.

Spot gold was up 0.6 percent at $1,734.19 an ounce at 1210 GMT, while U.S. gold futures for February delivery were up $10.10 an ounce at $1,736.00.

Gold prices are up nearly 11 percent this year, benefiting from a rebound in the euro and expectations that U.S. monetary policy will remain loose, cutting the opportunity cost of holding non-yielding bullion. Butanlysts say the appeal of other investments could keep gold prices rangebound this year.

“The risks (in Europe) could dissipate modestly in the near term. Certainly, in China, there is a growing acceptance that the government will step in to support growth, and things look like they’re stronger than expected in the United States,” said Deutsche Bankanlyst Daniel Brebner

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