Gold prices retreated in afternoon trade as the euro hit lows against the dollar it has not seen in weeks. Traders were spooked by indications that European officials may delay a bailout package for debt-laden Greece – bringing worries about a catastrophic default to the fore. Spot gold is still up in the year to date, but well off the record high of just above US$1,920 reached late last year, when gold still enjoyed a safe haven appeal and prices saw a boost whenever the euro zone produced bad news.
Source: proactiveinvestors
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