Gold Gathers Steam on Slumping Dollar

Reuters reported that gold gained more than one percent on Wednesday, on the back of a softening dollar.

As quoted in the market report:

Debt crisis in Greece and Portugal, which seem to be back in focus, is weighing on equities and possibly leading to some higher demand for gold, but on the other end we are still seeing outflows from ETFs and that’s negative,” Commerzbank analyst Daniel Briesemann said.

To view the whole Reuters report, click here.