Gold May Decline as Dollar Gains Ahead of EU Meeting on Greece

- May 16th, 2011

Bloomberg reports that gold may decline for a second day in London trading as the dollar advanced amid concerns that Europe’s debt woes will worsen.

Bloomberg reports that gold may decline for a second day in London trading as the dollar advanced amid concerns that Europe’s debt woes will worsen.

The market news is quoted as saying,

“With the outlook for PGMs blemished by the disruption in the global auto sector supply chain and silver continuing to trade in extremely volatile conditions, we expect investors will look increasingly toward gold to hedge systemic financial risk,” Morgan Stanley analysts led by Hussein Allidina said in a report today, referring to platinum-group metals.

For the complete market news, click here.

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