{"id":433091,"date":"2011-05-31T06:26:41","date_gmt":"2011-05-31T06:26:41","guid":{"rendered":"http:\/\/www.ghanamma.net\/2011\/05\/31\/gold-price-steady\/"},"modified":"2011-05-31T06:26:41","modified_gmt":"2011-05-31T06:26:41","slug":"gold-price-steady","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2011\/05\/31\/gold-price-steady\/","title":{"rendered":"Gold price steady"},"content":{"rendered":"<div readability=\"91.7174940898\">\n<p>You Are Here: <a href=\"http:\/\/www.ghanabusinessnews.com\">Home<\/a> \u00bb <a href=\"http:\/\/www.ghanabusinessnews.com\/category\/africa-international\/\" title=\"View all posts in Africa\/International\" rel=\"category tag\">Africa\/International<\/a> \u00bb Gold price steady<\/p>\n<div>\n<p><span>Page last updated at Tuesday, May 31, 2011 6:06 AM \/\/ <\/span><\/div>\n<p><a href=\"http:\/\/www.ghanabusinessnews.com\/wp-content\/uploads\/2008\/12\/gold-bars.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-372\" title=\"gold-bars\" src=\"http:\/\/www.ghanabusinessnews.com\/wp-content\/uploads\/2008\/12\/gold-bars.jpg\" alt=\"\" width=\"248\" height=\"210\" \/><\/a>Gold rose to its highest in almost four weeks on Tuesday as lingering fears about a Greek debt default overshadowed a rebound in the euro, while silver was heading for its biggest monthly decline since 2008.<\/p>\n<p>A Wall Street Journal report that Germany could make concessions on efforts to put together a bailout for Greece lifted the single currency, but analysts said Greece\u2019s debt crisis deterred investors from searching out higher risk assets.<\/p>\n<p>Spot gold added 89 cents to $1,538.84 an ounce by 3:10 a.m. British time hitting an intraday high around $1,540, its highest since May 4. Bullion is down 1.6 percent so far in May, hovering below a lifetime high around $1,575 touched in early in the month.<\/p>\n<p>\u201cIt\u2019s crucial for markets to see whether Greece is actually sustainable and whether it can actually obtain the next 12 billion euros that is required for them to meet their funding needs in July,\u201d said Ong Yi Ling, investment analyst at Phillip Futures in Singapore.<\/p>\n<p>\u201cI think silver was going up too fast and within too short a period of time. But I think on a longer-term basis after the selloff, you see that investors are slowly coming back.\u201d<\/p>\n<p>Silver rose 22 cents to $38.27 an ounce, but the metal is down around 20 percent in May \u2014 its biggest monthly decline since 2008. Silver struck record at $49.51 an ounce in April.<\/p>\n<p>The European Union is racing to draft a second bailout package for Greece to release vital loans next month and avert the risk of the euro zone country defaulting, EU officials said on Monday.<\/p>\n<p>Germany is considering dropping its push for an early rescheduling of Greek bonds in order to facilitate a new package of aid loans for Greece, the Wall Street Journal reported, citing people familiar with the matter.<\/p>\n<p>The euro rose to as high as $1.4354, its highest in three weeks because of the report, rising above its 55-day moving average at $1.4333.<\/p>\n<p>The physical market lacked activity, but some speculators could be tempted to cash in on gold\u2019s gains. Demand from top consumer India was likely to ease as the wedding season comes to an end.<\/p>\n<p>Indian parents customarily give gold jewellery as gifts.<\/p>\n<p>\u201cIt\u2019s a very quiet start,\u201d said a dealer in Singapore.<\/p>\n<p>\u201cBut we saw two-way business yesterday. Thailand and Indonesia were sellers, while the Indians were the buyers. We also saw speculators buying silver.\u201d<\/p>\n<p>Source: Reuters<\/p>\n<hr\/>\n<p>| | <a href=\"http:\/\/twitter.com\/home?status=Currently%20reading%20http:\/\/www.ghanabusinessnews.com\/2011\/05\/31\/gold-price-steady\/\" title=\"Click to send this page to Twitter!\" target=\"_blank\" rel=\"noopener noreferrer\">Tweet This!<\/a> | <\/p>\n<hr\/>\n<h4>Comments<\/h4>\n<\/div>\n<p>More:<br \/>\n<a target=\"_blank\" href=\"http:\/\/www.ghanabusinessnews.com\/2011\/05\/31\/gold-price-steady\/\" title=\"Gold price steady\" rel=\"noopener noreferrer\">Gold price steady<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p> You Are Here: Home \u00bb Africa\/International \u00bb Gold price steady Page last updated at Tuesday, May 31, 2011 6:06 AM \/\/ Gold rose to its highest in almost four weeks on Tuesday as lingering fears about a Greek debt default overshadowed a rebound in the euro, while silver was heading for its biggest monthly decline since 2008. A Wall Street Journal report that Germany could make concessions on efforts to put together a bailout for Greece lifted the single currency, but analysts said Greece\u2019s debt crisis deterred investors from searching out higher risk assets<\/p>\n","protected":false},"author":0,"featured_media":433093,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":{"0":"post-433091","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-sports"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.0 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Gold price steady - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2011\/05\/31\/gold-price-steady\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Gold price steady - Ghanamma.com\" \/>\n<meta name=\"twitter:description\" content=\"You Are Here: Home \u00bb Africa\/International \u00bb Gold price steady Page last updated at Tuesday, May 31, 2011 6:06 AM \/\/ Gold rose to its highest in almost four weeks on Tuesday as lingering fears about a Greek debt default overshadowed a rebound in the euro, while silver was heading for its biggest monthly decline since 2008. 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