Spain | Cache Metals


Gold & Silver Daily Market Recap: May 30th, 2012


Spot gold was looking like it could breach $1530, but a late day turn around saw buyers push the metal back above $1560.

Spain was the major focus as both Italian and Spanish bonds slumped on Wednesday amid growing fears over the cost of propping up Spain's fragile banking sector. The euro/usd pair has not found any type of floor as the single currency plummeted to below 1.2400 for the first time in almost 2 years. Spain’s ailing banking sector and soaring borrowing costs has investors nervous and jittery.


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