Gold Prices Rise As Euro Recovers, (GDX, GLD)

Gold prices rose in Europe after the euro recovered from the early losses it made following a media report in which Juergen Stark, the European Central Bank executive board member, said that the European Union would not bail out Greece.

From a technical perspective, gold is poised for further gains, said analysts who study past price movements for clues to future trading patterns. Other commodities such as industrial metals also climbed, with copper rising to its highest since August 2008. Some of the gold ETFs set to do well include Market Vectors Gold Miners (ETF) (NYSE: GDX) and SPDR Gold Trust (ETF) (NYSE: GLD).