The leaders of the nations hosting the euro zones two top economies, Chancellor Angela Merkel of Germany and President Nicolas Sarkozy of France, were set to convene in Berlin later on Monday for purposes of discussing enhanced fiscal discipline among the 17-member euro zone nations.
"The rise in volatility across all assets makes investors jittery about their investments," chief executive officer Sundeep Sikka of India's second-largest gold exchange-traded fund told Bloomberg. "We see gold continuing to attract interest even in 2012. Investors are looking for a haven to park their money as the market sentiment for equity is uncertain."
At 7:40 a.m. on Monday, gold futures fell 0.05 percent, an 80 cent drop to $1,617.60 per troy ounce.
Also on Monday the euro touched its lowest value since late 2010 when compared with the U.S. dollar, Dow Jones Newswires reports. Demand for the yellowish metal in India, a top consumer of the precious metal, has been slower than anticipated.
This material is conveyed as a solicitation for entering into a derivatives transaction.
This material has been prepared by a Daniels Trading broker who provides research market commentary and trade recommendations as part of his or her solicitation for accounts and solicitation for trades; however, Daniels Trading does not maintain a research department as defined in CFTC Rule 1.71. Daniels Trading, its principals, brokers and employees may trade in derivatives for their own accounts or for the accounts of others. Due to various factors (such as risk tolerance, margin requirements, trading objectives, short term vs. long term strategies, technical vs. fundamental market analysis, and other factors) such trading may result in the initiation or liquidation of positions that are different from or contrary to the opinions and recommendations contained therein.
Past performance is not necessarily indicative of future performance. The risk of loss in trading futures contracts or commodity options can be substantial, and therefore investors should understand the risks involved in taking leveraged positions and must assume responsibility for the risks associated with such investments and for their results.
Trade recommendations and profit/loss calculations may not include commissions and fees. Please consult your broker for details based on your trading arrangement and commission setup.
You should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources. You should read the "risk disclosure" webpage accessed at www.DanielsTrading.com at the bottom of the homepage. Daniels Trading is not affiliated with nor does it endorse any third-party trading system, newsletter or other similar service. Daniels Trading does not guarantee or verify any performance claims made by such systems or service.