Articles
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PRECIOUS-Gold inches up; euro zone concerns remain
SINGAPORE, Jan 10 (Reuters) - Gold prices edged higher
on Tuesday after two consecutive sessions of losses, supported
by a steady euro ahead of key bond auctions in the euro zone
this week while sentiment remained fickle over the region’s
fiscal prospects.
FUNDAMENTALS
* Spot gold edged up 0.1 percent to $1,613 an ounce
by 0028 GMT.
* U.S. gold gained 0.4 percent to $1,614.30.
* The euro edged up early in Asia on Tuesday, having been
squeezed higher in the previous session as the market pared
extremely bearish bets against the single currency ahead of key
events in Europe this week.
* Market participants are eyeing bond auctions by Italy and
Spain later this week, a major test on the willingness of
investors to plough more money into the debt-laden euro zone
nations.
* Germany and France warned Greece on Monday it will get no
more bailout funds until it agrees with creditor banks on a bond
swap and pressed for an early deal to avert a potential default
in the euro zone’s most debt-stricken nation.
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