Gold, euro showing renewed strength as Greek debt outlook improves

Thursday, March 4, 2010
A better debt outlook for Greece is giving investors new confidence.
- By Superior Gold Group
Dealer gold prices have been on the upswing in recent days in part because of renewed investor confidence in the Euro, as well as more hope that the U.S. unemployment situation may be easing somewhat.

For example, the U.S. Labor Department reported on Thursday that the number of initial unemployment claims was down to 469,000, marking an improvement from the previous week's 498,000. Separate employment data released on Wednesday also pointed to a slowly improving job market.

According to a report from Dow Jones Newswires, gold prices approached their highest point in about seven weeks during Wednesday's trading, in part due to renewed optimism that Greece would be able to eventually bring its sovereign debt woes under control.

The financial news provider noted that the euro had gained in response to positive news out of Greece about its deficit, and that this was helping to build up a better appetite in general for risk among investors.

Even as the economy has sputtered to an improved situation over last year, gold has remained an attractive investment based on factors like rising demand overseas due to emerging economies and growing industrial activity in some countries.


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Contact The Superior Gold Group and learn how to get on the gold standard at www.gold101.com or Call (888) 374-4032.
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