fmx | metals | connect - Gold, oil rise on Greek election hopes

Categories:: None

Tools

Data Reports:: market snapshot; energy >> crude report; energy >> options report; energy >> natural gas report; commodities >> metals report; weather >> full report

<< US Mint's gold bullion coin sales at lowest level in October | FMX | Connect Gold Options Report – November 3, 2011 >>

Gold, oil rise on Greek election hopes

November 3 2011, 10:38

FMX|Connect- WWW.FMXConnect.com (Reported on 11/3/2011)

Gold, oil rise on Greek election hopes

Source: Reuters

Spot gold and crude oil rose on Thursday as investors bet a possible collapse of Greece's government would kill plans for a referendum on the country's bailout package, forcing it to accept EU aid and avoid a disorderly default.

Two Greek ruling party lawmakers said earlier they did not support Prime Minister George Papandreou's call for a referendum on the EU rescue package, raising hopes for an early election, not a referendum. These hopes bolstered the euro, but the single currency later gave back gains versus the dollar after the European Central Bank cut interest rates by 25 basis points, as concerns over the EU debt crisis outweighed worries over high inflation. To read the full article, Click Here.

To view our metals reports and articles on your PDA or mobile device, click here.

-----

About FMX: FMX Connect is an information, data, and analytics portal for Commodities. The portal provides an all-in-one package including essential market data, independent third party research, industry news, and commodity trading tools. FMX Connect provides efficient, effective, and thorough data that bridges all aspects of commodities onto one screen. The Result; A user friendly application for hedge fund traders, OTC brokers, individual investors, and industry participants.

Note: The information presented, while from sources generally believed to be reliable, is not guaranteed and may not be complete. FMX | Connect makes no representations or warranties regarding the correctness of any opinions or information. Past results are not necessarily indicative of future results. Nothing in this report should be construed as a representation to buy or sell shares, futures or options, which contain considerable risks. For internal client distribution only. Any reproduction, re-transmission, or distribution of this report without permission is prohibited. Media correspondents or reporters may not quote any one page or section in its entirety and must attribute all quotes, ideas or concepts herein. Copyright FMX | Connect, ©2009-2010. All rights reserved.