Gold prices are hovering near record levels around $1,540 an ounce “as Greek political instability and European jousting over a new financial package for Greece continued through the weekend,” ETF Securities says in a weekly report on the precious metals market.
“The Greek prime minister reshuffled his cabinet and called for a vote of confidence as political opponents and street protests challenged further austerity measures,” Daniel Will and Nicholas Brooks at ETF Securities wrote in the report. “Meanwhile, Europe continues to play hard ball, delaying a decision on a new financial package until it is clear Greece will honor its reform obligations.”
ETFS Physical Swiss Gold Shares (NYSEArca: SGOL)
