ONE: Gold remains stable in face of euro debt concern
Gold remains on a stable footing today (December 1st), while fears that euro zone debt could escalate.
Those involved in CFD trading may be interested to note that spot gold rose to $1,392.55 (£890.32) this morning, representing a rise of $5.20.
Meanwhile, bullion remains below the highs it hit in mid-November.
Fears of euro zone debt getting out of control are rising, as investors suspect Spain and Portugal will need similar aid to Ireland – and Reuters comments that the European Central Bank "is under pressure" to bring the situation under control.
Manager at Hong Kong's Heratus Dick Poon said: "Recently, we only see physical demand on the investment side. Other than that, manufacturers are quite slow. This is related to the high price."
Yesterday, gold reached its highest price for three weeks and bullion was trading at a record price in euros.
