Gold prices gained slightly on Friday, with optimism spread through markets after the European leaders were able to create a strong firepower to stop the debt crisis. Next week, we will watch European leaders finalize their comprehensive plan.
Traders will continue to monitor the latest developments from Europe, looking up to the credible efforts of European nations, where we expect volatility to persist through the sessions this week, especially with eyes wide-opened on the European bond auctions, hoping bond yields will fall this time after European leaders agreed to drop the private sector’s involvement in the cost of bailouts needed to safeguard Europe’s indebted nations from falling down.
Accordingly, we should expect more fluctuations in prices, but should the current optimism persist, we should expect gold prices to extend the rallies, however, the level of uncertainty is very high, and investors are ought to remain cautious.
Originally posted here
