Gold Gains as Euro Recovers against the Dollar

Gold gains from strength in Copper and Oil Markets

Tuesday 2nd Mar 2010

The prices of Gold rose on Monday in Europe while the Euro recuperated early losses versus the US Dollar. The yellow precious metal also gained from strength in many other commodities like Copper and high Oil prices.
The value of Silver was at its highest since early February 2010 at $16.73 an ounce, thanks to the increased market prices in all industrial metals.

According to Wolfgang Wrzesniok-Rossbach, head of sales at Heraeus, precious metals company, the propulsion of gold is due to the the dollar/euro relationship and the strong prices of Oil too.
The value of the Euro became higher against the Dollar on Monday, recovering initial losses and promoting signs of a financial support deal for Greece in the near future. The fiscal crisis of the country of Greece has kept up the strain on the single currency into the first quarter of this year 2010.

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