The Euro Sharply Strengthened &Nbsp; Spot Gold Prices Rose Significantly.
Greece is close to an agreement with private creditors to swap bonds. The euro / dollar strengthened sharply and spot gold rose significantly on Thursday (March 8th).
Spot gold
The highest touches of $1703.70 / ounce, the lowest down to $1681.50 / ounce, closed at $1700.10 / ounce, the last trading day closed at 1683.10 U.S. dollars / ounce, up 17 U.S. dollars / ounce, or 1.01%.
The world's largest gold exchange traded fund (ETF) SPDR Gold Trust held its gold position as at 1293.68 tons as of March 7th.
A senior Greek government official said on Thursday that the Greek private sector debt swap (PSI) program will be successfully carried out and that the participation rate has exceeded 75%.
International Finance Association
(IIF) chief executive Charles Dallara said on Thursday that IIF had confidence in Greece's private sector debt swap (PSI), which is a key step in the second round of Greece's rescue plan.
It is reported that the US Federal Reserve (Fed) is considering launching a new form of bond purchase, which helps to boost market sentiment.
The euro / dollar rose nearly 100 points, the US index was under pressure, and the weak dollar was good.
Data released by the US labor department on Thursday showed that the number of unemployed Jin people increased by 8 thousand in early March 3rd, to 362 thousand, with a forecast of 351 thousand.
European Central Bank
(ECB) President Delaki (Mario Draghi) once again issued a warning that the ECB's unconventional monetary policy is not omnipotent, and must gradually return to the normal and traditional central bank policy.
Mike Daly, a PFGBEST gold and silver expert, points out that traders may perform some liquidation of some positions before the United States announces non farm employment reports.
Mike Daly expects non-agricultural employment or gold price volatility to fluctuate by 20 or 30 dollars.
USAA Dan Denbow, a precious metals and mineral fund manager, said: "to solve the Greek problem may not just be the injection of funds so simple, gold seems to be unclear, but compared with gold, other assets are depreciating."
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