Gold rose to its highest in a week today after euro zone policymakers sealed an agreement for a second debt deal with Greece. Gold remained flat at $1,736/oz. in Asian trading after the deal was reached but then saw some buying which saw gold rise to $1,740/oz.
Gold is enjoying an awesome January, rallying strongly out of its oversold late-December lows. But last month’s hyper-pessimistic sentiment deserves some reflection before it totally fades from memory.