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Thursday, April 8, 2010

Teck Resources (TSE:TCK.B), Centerra Gold (TSE:CG), Eldorado Gold (TSE:ELD) Down on Greek Worries

Teck Resources (TSE:TCK.B),Centerra Gold (TSE:CG) and Eldorado Gold (TSE:ELD) are all down today as concerns over the Greek debt crisis continues to be a major factor in the markets.

Centerrra Gold has the added burden of violence and geo-political problems in Kyrgyzstan, where their flagship mine - Kumtor is located.

This is going to continue to be the story until the Greek crisis resolves itself one way or the other, and will also including lingering doubts about a number of other nations in the European Union.

We'll continue to see gold and the U.S. dollar and yen be choice people go to for safety, and the new realities have investors going back and forth between them.

Gold has rebounded from earlier in the day, and has gained to reach past the $1,150 mark again, which it continues to flirt with.

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