GOLD WEBCAST – Gold price down 0.7pct for the week as safe-haven demand fades

Otmane El Rhazi from The Bullion Desk.

Risk-sentiment remains on whether or not Greece can reach an agreement with its creditors over the country’s bailout, although positivity is building. Athens has agreed to talk to the IMF, the ECB and the European Commission on Friday about a compromise on the bailout deal which expires on February 28. The European Central Bank (ECB) has also approved extra emergency finance for Greek banks – raising the cap on emergency funding for Greek banks by five billion euros. Good buying seen in China ahead of Lunar New Year, expected to continue right up until February 19.

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