11
May
Gold May Extend Drop From Five-Month High as Haven Demand Eases
11 May 2010 Bloomberg.com
Gold gained on concern that the almost $1 trillion loan package to bail out indebted nations in Europe may not be enough to contain the sovereign debt crisis. Palladium declined.
Marek Belka, the director of the International Monetary Fund’s European department, said he doesn’t consider the rescue package a “long-term solution.” European Central Bank council member Axel Weber said the bank’s purchase of government bonds poses “significant” risks, Germany’s Boersen-Zeitung reported.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a5pujfo27DvQ
