As fears re-emerged that the Greek's wouldn't be able to push through their austerity measures, the price of gold stepped back over the $1200 line, and is once again looking to challenge the highs of $1225. Yesterday's pullback has been forgotten, as the lure of gold as a safe haven once again came on the radar of traders.

Market News

1. Hedge Fund manager John Paulson's recently launched gold fund jumped 10% in April as prices rallied.
2. Moodys Investor Services announced that they may still downgrade Portugal, and could further lower Greece to junk status
3. The rate of inflation accelerated in China during April as consumer and producer prices beat estimates
4. Fed members Lockhart and Plosser are both scheduled to be speaking in Atlanta this afternoon

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