By FX Empire.com
Gold prices rose on Wednesday, as traders ignored the Slovak Parliament’s rejection of expanding the size and power of the European Financial Stability Facility fund on hopes the plan will pass when the Parliament votes again later this week, and accordingly, demand for higher yielding assets strengthened, which put the U.S. dollar under pressure and allowed gold prices to rise.
The outlook for gold remains generally to the upside, however, we still expect volatility to continue to dominate gold prices, and that could still weigh down on gold prices, but overall, our general outlook for gold prices remains to the upside.
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