Cyprus brings gold price 'immunity' as ETF outflows hit 18 tonnes a day

By Frik Els

The gold price on Tuesday was consolidating yesterday’s gains as investors continued to digest the stunning decision over the weekend to bail-in Cypriot savers.

By lunchtime gold was up $7 an ounce at $1,612 as ordinary Cypriot bank account holders – and a few Russian oligarchs – anxiously await fresh news …read more