By FX Empire.com
Gold prices rose on Wednesday, amid rising concerns over the European debt crisis, as investors are focused onItalyandGreece, where the political instability in both nations is stalling the reform which is forcing the nation to remain vulnerable to speculation and market pressure which already sent its borrowing costs to record.
Nonetheless, traders targeted gold as a safe haven amid the huge uncertainty that is surrounding the outlook for the European debt crisis, where the appeal of gold as a safe haven seems to have returned over the course of this week.
Traders will continue to monitor the developments from Europe regarding the debt crisis, especially amid the lack of major economic data from the United States, but overall, we expect gold prices to extend the rally over the coming period.
Originally posted here
