GOLD PRICES FELL ON FRIDAY Feb 27
Date : 27.02.12
Gold prices fell on Friday, breaking ranks with the euro, as sharp gains from earlier in the week based on economic optimism and a Greek bailout deal prompted investors to take profits. Bullion posted its largest weekly rise in four weeks, as expectations for further easing by China and a near-zero interest-rate outlook for the next several years boosted the metal`s inflation-hedge appeal. News that Europe sealed a rescue package for Greece to avert an imminent chaotic default lifted gold along with the euro and other riskier assets. Other investors bought gold on fears of more European monetary easing and lingering doubts about Greece`s ability to implement deep cuts. www.goldennifty.com
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