IBT:Gold Price Steady as Physical Demand Offsets Euro Worries
Gold hardly moved Tuesday with prices stretched between stronger physical demand from Asia and eurozone worries, including bank weakness and more sovereign debt downgrades.
Traders may also have been recouping after an exhausting day Monday, when precious metals prices plunged.
Fitch Ratings and Moody's Investors Service warned Monday that last week's summit did little to ease concerns about the credit worthiness of eurozone members.
In addition, Moody's put eight Spanish banks on review for a downgrade, and Germany's Commerzbank continued talking with Berlin about state aid as it struggled with recapitalization strains.
