Gold prices dip as Greece worries hit euro

Gold prices retreated in afternoon trade as the euro hit lows against the dollar it has not seen in weeks. Traders were spooked by indications that European officials may delay a bailout package for debt-laden Greece – bringing worries about a catastrophic default to the fore. Spot gold is still up in the year to date, but well off the record high of just above US$1,920 reached late last year, when gold still enjoyed a safe haven appeal and prices saw a boost whenever the euro zone produced bad news.

Source: proactiveinvestors