10.02.2015 - Speculation on the Greek question lead to high volatility

The price of gold was not able to continue the growth against the background of improving investors' expectations about the prospects for reaching a consensus on the Greek question. Let us recall that tomorrow will be held a meeting of Eurozone finance ministers at which the Greek crisis will be the central theme. In case of deterioration of the prospects for restructuring Greece's debt, the demand for gold will rise again. It is worth noting activation of Asian buyers amid falling gold quotes. An additional factor that may support the growth of the price is the Ukrainian crisis, which leads to a deterioration of relations between the West and Russia. We maintain a positive medium-term outlook for gold, but recommend to wait for the signal to open long positions.

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