Gold recovery in early trading on renewed U.S. fears of debt crisis



Prime Minister of Luxembourg Jean-Claude Juncker told a news conference set up by Friday after a gathering of heads of euro zone finance ministers in Poland, that the decision to Greece next installment of an aid package in 2010 will be taken in October next.


Picked a spot rate of gold today, the beginning of U.S. trading on renewed concerns about the crisis of sovereign debt in the euro, boosting demand for refuge, with the decisions reached by the finance ministers of the Europeans until this time.


Juncker said that presidents have praised the efforts Greece has made to accomplish reductions in the deficit, & officials expressed their side of the Greeks from the fact that for Greece the next batch of aid will lead to find the liquidity of the state & it will go bankrupt within weeks.


Declining levels of trust in financial markets after the demands of some European countries, Finland, a guarantee as part of the bailout is directed to Greece, & this proposal would delay the agreement between the Ministers of Finance as said by European officials.


Continue ministers Europeans their meeting today in Poland for tomorrow evening to discuss how to generate a bailout fund a used Euro-zone, & cease the chaos gripping the markets & speculation probability of bankruptcy of Greece, which caused a sharp decline in the index of global equities over the past few days.




Real-time trading cost of gold is currently on the levels of $ one,793.35 an ounce & scored the highest at $ one,795.15 as well as a low of $ one,762.42 compared to the opening cost at $ one,859.58.


Silver rose today, trimming the losses recorded by yesterday, after investors rush to buy stocks, European stocks rose yesterday, & was followed by significantly than that of America, & Asian stocks ended the day rising.


The cost of gold fell in morning trading, its lowest level in weeks after it decided the European Central Bank yesterday lending banks in the euro area in U.S. dollars within lending operations separate, the cooperation of the European Central Bank with the Fed & other central banks to make positive liquidity in European markets until the finish of the year.


Index S & P GSCI yesterday at 658.58 levels upward by three.83 points & is trading RJ / CRB index Pettmam at 09:48 EST on 331.84 points, losing 0.76 points.


 Real-time trading cost of silver is currently on the levels of $ 40.08 an ounce, & recorded the highest at $ 40.37 as well as a low of $ 39.35 compared to the opening cost at $ 39.45.


Rose futures for gold delivery October by 0.63% or by 11.30 points, its level of $ one,792.700 per ounce, traded futures contracts for silver is currently on the levels of $ 40.210 an ounce, up by one.79%.

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