Gold, oil rise despite eurozone fears 

(MENAFN - ProactiveInvestors - Australia) From North America: Gold and oil futures rose Friday, but not enough to post weekly gains.

Gold for June delivery ended 0.7 per cent higher at 1,568.90 an ounce on the Comex division of the New York Mercantile Exchange, with gains attributed to bargain hunting, and calmer markets ahead of the long weekend in the US.

The yellow metal has falled in two of the past three sessions as investors continue to worry over Greece's fate, and whether it will have to exit from the euro, as well as the fate of the entire eurozone region.

For the week, gold was down 1.4 per cent.

Friday, investors were given some positive news from the US, with data showing consumer sentiment for May rising to a level not seen in almost five years.

Crude oil futures for July were up 0.20% to end at 90.86 a barrel, despite eurozone jitters.

European leaders say they want Greece to stay in the euro, but have so far shown no real commitment to meet in the middle on their austerity terms.

European leaders failed to come up with any resolutions to the region's debt crisis at an informal summit earlier this week, specifically regarding Greece - and the possibility the country may have to exit the eurozone.

And today, trading was halted for shares of Bankia, Spain's fourth largest bank, on the Madrid stock exchange, as the board of the bank prepares a bailout request from the country's central bank.



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