Gold News

Gold Prices rise due to Greek debt problems

The recent rise in Gold Prices has, in part, been attributed to the continued financial crisis in Greece.

A recent article in the Financial Times reveals that the Gold Price extension to beyond $1,100 an ounce has been driven by widespread concerns over the economic woes in Greece.

The newspaper reported: "Gold extended its [price] push … amid heightened concerns about sovereign debt problems, as European finance ministers urged the Greek government to take stronger measures to tackle its fiscal deficit."

It went on to suggest the effects of the problems in Greece was causing people to question the "integrity of the euro", further driving price rises.

The Gold Price rise in Europe is having a knock-on effect on yellow metal prices on the subcontinent, according to the Press Trust in India.

The Agency said: "Gold Prices shot up further at the bullion market here … on renewed demand from stockists and speculators triggered by a steep rise in European markets."

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