Tuesday, February 28, 2012

Gold Increases as ECB grabs attention

The precious gol has inched up on Tuesday after two session of losses, supproting by the cheerful data about the Euro-Zone, ahead of a major cash injection by the European Central Bank expected later during this week.

The yellow metal has soared about 3 percent last week, as the Grece bailut deal and expecations of more monetary easing. On Wednesday, the ECB will support the Greec financial crisis by another batch of three-year which calls as ultra-cheap loans offered.

On the other hand, the greenback inched down against a basket of currencies, drawing buyers holding other currencies to dollar-denominated commodities. 

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