Gold struggles to extend gains, as uncertainty over Greek compromise grows
16 February 2015, 12:10
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As the uncertainty
surrounding the outcome of the Eurogroup meeting grows, gold is struggling to extend gains.
The
yellow metal trades below the 50-DMA currently located at USD 1236 for
the fourth consecutive session. In the last few sessions prices have failed to rise despite the Greece’s debt issue.
The gains are
being limited today on expectations of a short-term fix to the Greece’s
debt issue. However, some amount of caution has helped Gold prices
advance on safe haven appeal.
Prices are also capped due to the absence of fresh fundamental incentive from Europe and the US.
