Gold prices edge up as crisis fears heighten

ZeroHedge has these numbers for a quick gold comparison:

Today’s AM fix was USD 1,597.25, EUR 1,219.65 and GBP 1,052.07 per ounce.
Yesterday’s AM fix was USD 1,592.50, EUR 1,201.89 and GBP 1,051.85 per ounce.


Gold is typically a commodity that you get into when you expect volatility. Italy's electoral deadlock has renewed fears about the stability of the Eurozone as a whole, with one of Europe's big players rejecting austerity. In times like this, gold's appeal rises. It's considered a good store of value, and as such is particularly sensitive to changes in inflation expectations. We may not be there yet, but that quality also makes it responsive to worries about the fates of fiat currencies.

The price of gold serves as a good barometer for how the market feels about stability. The variations in price seen here aren't that substantial, but watching gold will give an idea of how worried traders are about Europe as the Italian situation unfurls.