Gold rose on
increasing demand for safe-haven assets
June 29, 2015
The Gold prices opened Monday trading session on an upward gap, as the yellow metal jumped along with other safe-haven assets on increasing concerns about the Greece crisis and its negative impact on investment in the euro area. Especially after the failure of debt talks to find a solution between Greece and its creditors. After the financial ministers of Euro group have rejected a proposal submitted by the Greek government. Which raised fears about the exit of Greece from the euro zone. And pushed the investors to avoid risk aversion and turn to safe haven investments. Furthermore, the gold was supported by the sell-off in Asian stocks and in addition to the expectations that the European stocks will open on a significant decrease. On the other hand, the dollar rebounded at the beginning of today's trading session, also supported by the selling of the euro and other major currencies.
June 29, 2015
The Gold prices opened Monday trading session on an upward gap, as the yellow metal jumped along with other safe-haven assets on increasing concerns about the Greece crisis and its negative impact on investment in the euro area. Especially after the failure of debt talks to find a solution between Greece and its creditors. After the financial ministers of Euro group have rejected a proposal submitted by the Greek government. Which raised fears about the exit of Greece from the euro zone. And pushed the investors to avoid risk aversion and turn to safe haven investments. Furthermore, the gold was supported by the sell-off in Asian stocks and in addition to the expectations that the European stocks will open on a significant decrease. On the other hand, the dollar rebounded at the beginning of today's trading session, also supported by the selling of the euro and other major currencies.
