LONDON, 3 May 2010 ? Leading financial news TheStreet.com today quotes analysis from BullionVault.com ? the world-leading gold trading and ownership service ? on why the Eurozone debt crisis is driving gold prices higher.
"The European Central Bank will need to slash interest rates and print money to pay for Greece's debt," journalist Alix Steel quotes Adrian Ash, BullionVault's head of research.
Suggesting that Greece may post some of its 112-tonne gold reserves as collateral for a loan, "You saw something similar with the IMF and India back at the start of the early '90s," Ash goes.
A repeat "would be interesting," he says, because "Central banks and governments basically re-mobilizing gold again...could potentially be very bullish for gold long term."
To read the full story, go to TheStreet.com here.
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