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Gold prices strong as the situation in China & Greece worsens
Contributed on February 20, 2012
LONDON -- February 20, 2012 -- MarketWatch is reporting that the price of gold is rising again Monday as regulators in China have decided to loosen the reserve requirements for banks and Greece moved closer to an agreement on a second bailout.
According to the MarketWatch article: "Commodities rose across the board after the People’s Bank of China Saturday decided to cut major lender’s reserve requirement ratios — the amount of money banks must hold in reserve — by 50 basis points to spur lending and increase liquidity. The world’s second largest economy is a big user of natural resources and attempts to stimulate the economy could drive up the demand for commodities."
The Greek Effect
"Metal prices were further spurred by hopes that a Greek bailout would get approved later Monday when the euro-zone finance ministers meet in Brussels to discuss the aid package and a debt-swap agreement with private creditors."
Read the full story at MarketWatch >>
| 1/10oz Gold Eagles | $170.79 |
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