CMP : $1791
Greece and Italy – the two EU economies at the centre of the current debt default and contagion crisis – are in the process of forming new governments, which has defused some of the tensions and uncertainty in global financial markets. But after a week of turbulence and extreme volatility, there is little sign that the long-running sovereign debt problems in Europe have been tackled. Aligned to this situation, the gold turned to buy mode on the 4 hourly charts on November 11,2011 with the supports coming around $1767.
Greece and Italy – the two EU economies at the centre of the current debt default and contagion crisis – are in the process of forming new governments, which has defused some of the tensions and uncertainty in global financial markets. But after a week of turbulence and extreme volatility, there is little sign that the long-running sovereign debt problems in Europe have been tackled. Aligned to this situation, the gold turned to buy mode on the 4 hourly charts on November 11,2011 with the supports coming around $1767.
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