Demand for Gold Investments rises as 'European woes' subside
Confidence is returning to European markets and is likely to encourage those considering Investing in Gold and other assets to move forward with their plans.
EU leaders are scheduled to meet on February 11th to discuss the economic outlook for its member states.
The euro has struggled against the dollar in recent times over fears that certain member states including Greece will struggle to meet their national debt repayments.
However, Bloomberg reports that Hwang Il Doo, senior trader for KEB Futures Co in Seoul, expects commodities such as the precious metal will become more attractive to investors once Greece's budgetary problems are addressed.
"With European woes easing somewhat, the dollar is retreating and demand for investment assets including gold is coming back," he told the news provider.
If past patterns in Gold Price fluctuations are followed, then the precious metal could soon start to improve once more.
Eugen Weinberg, head of commodity research with Commerzbank AG in Frankfurt, told Bloomberg: "We expect the Gold Price to further stabilize due to the current buying interest."
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