Related Articles
Share it
Gold dropped for the first time in four days on Thursday, after hitting a 12-week high of $1,153.2 per troy ounce the day before.
Meanwhile, gold priced in euros reached a record on Wednesday following a report which showed Europe's economic growth stagnating in the fourth quarter. Fresh concerns that a financial rescue plan for Greece may falter also weighed on the euro, encouraging investors to diversify into so called safe-haven assets such as gold. 'You're seeing more people jumping back on the gold bandwagon, regardless of what the dollar's doing,' said Matt Zeman of LaSalle Futures Group. 'There are still a lot of sovereign-debt issues, and gold is a safe-haven buy in Europe. In the US, the economy is recovering, and people are starting to talk inflation.' Meanwhile, Jim Rogers, chairman of Rogers Holdings told Bloomberg Television on Thursday that investors should not sell gold now, as he predicts that the metal may rise to 'at least $2,000 by the end of the decade'.
