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Oil Spikes, Portuguese Bonds & Stocks Crash And Eurozone Debt Crisis Returns

from Gold Core:

Portugal’s benchmark equity gauge tumbled 7% and the 10-year bond yield surged 12% or 130 basis points to 8.02%. The Eurozone debt crisis is far from over contrary to more complacent sounds in recent months.

Greece has three days to reassure Europe and the IMF that it can deliver on conditions attached to its bailout in order to receive its next tranche of aid, four euro zone officials said on Tuesday.

Gold in euros has risen 6% from a low of EUR 906/oz to EUR 963/oz. With the Eurozone debt crisis far from resolved and set to erupt again, gold could find support at these levels.

Crude oil rose above $102 a barrel due to geopolitical risk in Egypt, Turkey, Syria and Israel. Oil climbed on concern that political turmoil in Egypt will disrupt shipments in the Suez Canal.

Read More @ GoldCore.com

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