Investors will have to deal with an avalanche of news flow from Europe on Wednesday ahead of a crucial meeting of euro zone finance ministers and US Treasury Secretary Tim Geithner on Friday.
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Spot gold edged higher on Wednesday, supported by worries about a worsening debt crisis in euro zone, while short-term bearish technicals are likely to cap gains.*
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Brazil's Finance Minister said Tuesday that officials of the BRICS countries will meet in Washington ahead of next week's IMF meeting to discuss what they can do to help the EU with the credit crisis.
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Gold prices rebounded on Tuesday from a sell-off in the previous session, as the sovereign debt crisis in Europe remains supportive of safe-haven demand in bullion.*
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Wall Street is bracing for a tough week surrounding the European Debt Crisis, with CNBC's Melissa Lee, Jim Cramer, David Faber, and Carl Quintanilla.
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Spot gold hovered around $1,900 an ounce on Tuesday, as renewed fears over the euro zone's debt crisis drove investors to safe-haven assets such as bullion.
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The euro zone could collapse if its member countries do not work together to solve its debt crisis, but China is pleased to see that Germany and France are cooperating to avert that risk, a Chinese vice foreign minister said in an interview.
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Gold held steady near a record high on Wednesday after a Franco-German summit failed to convince investors that the euro zone debt crisis would be solved effectively, supporting safe-haven demand for bullion.*
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Germany is showing more commitment to the resolution of the euro zone debt crisis, and is likely to expect even greater influence on the fiscal discipline of its neighbors in return, analysts told CNBC.
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The European Central Bank is not worried about the health of the euro zone as a whole and it will stick to its role of fighting inflation, ECB president Jean-Claude Trichet told CNBC in an interview Thursday.
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George Osborne has urged euro zone leaders to “get a grip” on the sovereign debt crisis at their summit today, warning that failure to do so could unleash an economic crisis as serious as the recession that followed the banking crash of 2008.
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Spot gold held steady below $1,600 on Thursday, with investors waiting for the euro zone summit on Greece's debt crisis later in the day, while concerns about the U.S. debt ceiling continued to support sentiment.
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The smart play is to get out of European assets, says Scott Minerd, Guggenheim Partners; with Frank Engels, Barclays, who weighs in on investor sentiment on Europe.
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Spot gold was steady on Wednesday, holding on to its 5-percent gain in the past seven sessions as growing fears of a euro zone debt contagion burnished bullion's safe-haven appeal.
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Spot gold held ground above $1,550 on Tuesday, as investors fled from risky assets on fears of a spreading euro zone debt crisis, but a stronger dollar and weak equities weighed on sentiment.
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The biggest question in any debt crisis is whether a credible path back to solvency can be found. For Greece, this now seems very unlikely, the Financial Times reports.
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هذا الموقع يستخدم ملفات تعريف الارتباط (الكوكيز ) للمساعدة في تخصيص المحتوى وتخصيص تجربتك والحفاظ على تسجيل دخولك إذا قمت بالتسجيل.
من خلال الاستمرار في استخدام هذا الموقع، فإنك توافق على استخدامنا لملفات تعريف الارتباط.