Resource Investor remains bullish about the medium-term prospects of Gold Prices, even if dollar prices rise higher.
According to the news provider, which is an expert on the commodity markets, Greece now looks likely to default, which will subsequently cause the value of gold to drop and the dollar to rise.
However, it suggested that such a string of events would not necessarily result in falling Gold Prices.
"Not only can the value of gold in Euro change, but it has very strong technical reasons to rally," the website noted.
"At this moment, it's not hard to imagine European investors to purchase gold in response to the Greece-related turmoil."
Commenting on the situation in Greece, which has helped drive Gold Prices in sterling to further record highs, Charles Stanley analyst Jeremy Batstone-Carr told the Guardian that European sovereign debt could be an issue for years to come.
"The long-term problem is that Greece, assuming it bites the bullet, will now have an even heavier debt servicing profile from 2014 onwards," he was reported as saying.
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