16
June
Gold May Gain on Concern Europe Debt Crisis May Slow Growth
16 June 2010 Bloomberg.com
Gold may advance in London on concern that Europe’s sovereign-debt crisis will escalate, spurring demand for the precious metal to protect wealth.
The euro slipped as much as 0.5 percent against the dollar. Debt levels in Spain and Portugal may “snowball” in the coming years and additional budget cuts are needed to meet deficit targets, according to a draft European Commission document obtained by Bloomberg News. The report is dated May 26. Gold added 1.1 percent yesterday, the most in a week and is today trading within 1.3 percent of a record.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aNHpQMl58P2c
