European Turmoil and Gold

February 26, 2015, 3:34 PM

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A lot has been going on in Europe in the first two months of 2015. Swiss National Bank removed the peg of 1.20 francs per euro and European Central Bank announced the QE program. Then radical left-wing Syriza won the elections in Greece and announced that it wants to renegotiate the bailout plan with the hated troika. Shortly thereafter Sweden joined the growing group of countries that cut its key interest rate and moved it below 0. While the Russian economic crisis aggravated as S&P downgraded (as well as Moody’s a bit later) Russia’s credit rating to junk status, the conflict in Ukraine continued, although the ceasefire was eventually agreed.

All of these events were covered in individual Gold News Monitors, but in the March edition of Market Overview we analyze them very thoroughly (as we did in the case of Russia’s financial troubles in the Feb Market Overview), because of their potential importance for the global economy and gold market. These are the key events that are likely to drive the price of gold in the following months - be sure to be aware of their impact.

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