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| Fitch Downgrades Italy, Increases Demand for Gold as Haven Posted: 11 Mar 2013 08:12 PM PDT Gold rallied today as concerns about the future of the European economy returned, increasing the appeal of the precious metal as a safe haven. One of the reasons for such worries was the downgrade of Italy’s credit rating by Fitch Ratings. Fitch cut the country’s long-term rate from A- to BBB+, explaining the decision by the following reasons (among others): - The inconclusive results of the Italian parliamentary elections on 24–25 February make it unlikely that a stable new government [...] |
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