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Gold Prices Gain After Wednesday's Selloff

In other words, investors should beware of overreacting to daily comments emerging from House and Senate leadership and President Obama.

The International Monetary Fund said Thursday that it would not disburse Greece's impending round of bailout loans until the country completed a voluntary buyback of its debt, an IMF spokesman said, according to Reuters.

The announcement marks another hurdle in the extended process for Greece to receive bailout funds from eurozone countries in order to handle its significant debt problems. Eurozone finance ministers approved the loan package earlier this week after weeks of discussions to determine the specifics of the deal.

The liquidity boost, if approved, would be considered an inflationary measure, which would make gold naturally attractive as a safe-haven hedge.

Gold mining stocks were mixed on Thursday. Shares of Gold Fields (GFI - Get Report) were increasing 3.4%, but shares of Yamana Gold (AUY - Get Report) were shedding 1.9%.

Among volume leaders, Kinross Gold (KGC - Get Report) was off 1.1%, while Barrick Gold (ABX) was tacking on 0.02%.

Gold ETF SPDR Gold Trust (SPDR) was up 0.41%, and iShares Gold Trust (IAU) was climbing 0.37%.

-- Written by Joe Deaux in New York.

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AUY $2.29 0.00%
GLD $112.32 0.00%
GFI $4.17 0.00%
IAU $11.33 0.00%
KGC $2.30 0.00%


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