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Reply #30: PRECIOUS-Gold up, EU plan to fight debt crisis expected [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Dec-02-11 08:27 AM
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30. PRECIOUS-Gold up, EU plan to fight debt crisis expected

LONDON, Dec 2 (Reuters) - Spot gold edged up on Friday as investors sought to hedge against inflation on the view that the European Central Bank will be forced sooner or later to boost liquidity on a massive scale in a bid to alleviate Europe's debt crisis.

Gains were limited, however, ahead of a key U.S. employment report later today.

There was widespread investor expectation that a European summit next week could finally yield a concrete solution to the euro zone debt crisis, with Germany and France working hard to reach a compromise deal.

The new head of the ECB said on Thursday he stood ready to act more aggressively to fight Europe's debt crisis if political leaders agree next week on much tighter budget controls in the 17-nation euro zone.
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