Analysts at Commerzbank consider there will be continued demand for gold in Europe, as Greek concerns will continue to weigh for some time.
On Monday gold priced in euro was attempting to reclaim the €1,100 area
after dropping below that level on Friday, for the first time in
almost three weeks.
XAU/EUR last traded at €1093.03, up €7.67
on the day.
Since uncertainty surrounding Greece’s debt talks continues to weigh, commodity analysts at Commerzbank say that they expect to see continued safe-haven demand for gold throughout Europe.
“Last Friday’s meeting of Eurogroup finance ministers, which focused on
Greece among other things, yielded no results,” they say.
“There is likely still to be considerable speculation on the markets about how long Greece will continue to be solvent, so demand for gold should remain solid.”
