Gold futures turn modestly lower |
| MarketWatch - Feb 13, 2012 |
Gold futures turned a tad lower Monday, losing some steam after a positive start as Greece’s parliament approved further austerity measures aimed at paving the way for more aid for the debt-strapped country and averting a disorderly default.
Gold for April delivery /quotes/zigman/660065 GC2J -0.16% declined $3, or 0.2%, to $1,721.60 an ounce on the Comex division of the New York Mercantile Exchange.
Commodity and equity markets started the trading week on an upbeat note after Greek lawmakers on Sunday approved a package of austerity measures required to secure emergency funds and stave off an impending default. Read more on what comes next for Greece.
But gold lost momentum and reversed lower, with most other metals futures taking the same turn.
With equity markets cheering the Greek deal, some strategists called for continued support for gold as euro-zone leaders begin the approval process necessary for the next batch of aid to flow to Greece.
Read Full Article from MarketWatch
- Posted: 2012-02-13 11:10:22
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