Can a Euro-zone crisis be averted?
*Barron's, by Murray Coleman, December 5, 2011:
''Gold Slides, Silver Rises; Is Europe's Turnaround Really
Sustainable?
With hopes rising that European leaders will work out an agreement to
forge a new era of austerity, investors are dipping their toes back
into equities and other riskier asset classes to start a new week.
Meanwhile, so-called 'safe-haven' avenues such as gold and the U.S.
dollar are pointing down.
Gold for February delivery on the Comex, the most active contract, was
most recently falling by $15 to $1,763.30 an ounce. At the same
time, silver was fighting to build some positive momentum. The
March contract was up 3 cents to $32.71 an ounce. But most other
contracts were trading in negative territory, although with less
volume.''
''Other analysts are again cautioning that markets could swing quickly
this week as events unfold in Europe. Already this morning,
investors are hearing that fresh data indicated the euro-zone's economy
was moving into a period of serious contraction. Still, precious
metals markets are most likely to move to events leading up to Friday's
summit meetings of European Union leaders. Today, leaders in
Germany and France are set to start preparing by discussing joint
proposals.
'The gold market this week will be shaped by the many political
meetings due to take place, which are likely to focus on the sovereign
debt crisis,' analysts at Commerzbank wrote in a research note.
'Friday's European Union summit is the most important meeting over the
next few days, though we can expect a long wait before a permanent
solution to the crisis is found.' ''
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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