IBT:Gold Prices Barely Move Ahead of Eurozone Summit
Gold prices barely moved Wednesday ahead of a key eurozone summit that global investors hope will finally produce a viable solution to Europe's 2-year-old debt crisis.
Leaders of the continent's two largest economies, Germany and France, have issued unusually strong claims that Friday's summit will not end until participants agree - once and for all -- on a series of measures to fiscally integrate at least the 17 nations that use the euro.
The strategy envisions a eurozone that will never again risk disintegration because national budgets routinely exceed deficit spending limits. Previous efforts toward such a goal have all ended in disappointment, initially lifting market sentiment only to see that sentiment crushed.