Otmane El Rhazi from
The Bullion Desk.
- On Thursday, Germany rejected Greece’s application to extend its loan agreement and renegotiate the terms of its bailout, which raised the odds that Athens could default in the coming weeks and potentially trigger a messy exit from the eurozone – the so-c
- Mixed data out of the eurozone this morning pushed gold lower – the French and German manufacturing PMIs both fell short of forecasts at 47.7 and 50.9 respectively, with the overall bloc number also disappointing at 51.1.
- Investors awaiting news from the third showdown between eurozone and Greek finance ministers in Brussels today to thrash out a deal over Greece’s 240-billion-euro bailout.
- A failure to reach an agreement may add some near-term safe-haven appeal to gold, with Greece’s current deal set to expire on February 28.
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