23
December
Gold May Climb as European Debt Concern Spurs Increased Investor Demand
23 December 2010 Bloomberg.com
Gold fluctuated in London as concern Europe’s debt woes will continue spurred demand for the metal as a protection of wealth.
The euro was little changed against the dollar as the European Central Bank will lend banks 149.5 billion euros ($196 billion) for three months to meet their liquidity needs over the year-end period. The cost of insuring Greek debt jumped yesterday after Fitch Ratings warned on Dec. 21 it may cut the nation’s credit rating to non-investment grade.
