GFI GOLD will be closed on Friday 29 March

22/10/2018

Italy and Europe under tension.

The Italian budget is at the center of the concerns of the European Commission and the rating agencies.

Italy and Europe under tension.

Italy has submitted its budget proposal for the year 2019 but it should be rejected by the Commission because it does not respect European rules and increases the country's deficit by 2.4% of GDP. This budget was deemed too expensive by Europe and the Prime Minister invited the foreign media for a press conference to explain his plan. The ruling coalition in Italy will most certainly go to the clash with Europe to respect its election promises.

In view of the tensions and worrying figures of the country (2.300 billion debt, growth of 0.1%, the Milan Stock Exchange which lost 21.4%, ...), the rating agency Moody's has dropped a notch Italy's rating (from Baa2 to Baa3) is just above the speculative grade and Standard & Poor's is expected to do the same on Friday.

News See all
Here you will find important information on economic and financial news as well as information that may have an impact on your investments in gold or foreign currencies
The calm before the storm?
2024-02-29

The calm before the storm?

The yellow metal has shown very low volatility over the last four months. It is holding up near all-time highs despite high interest...
Gold in 2023: What's the outlook for 2024?
2024-01-29

Gold in 2023: What's the outlook for 2024?

The yellow metal posted a performance in euros of 9.9% over 2023 despite ECB interest rate levels not seen since 2001.
L'avenir: Gold prices hit record highs
2023-12-07

L'avenir: Gold prices hit record highs

The price of the yellow metal has risen sharply in recent weeks. Among the causes? The war in the Middle East.
We are currently closed from Friday to Monday included.
Download our guide

Download our guide

Do you want to invest in gold?
Do you have some knowledge but want to learn more?

This guide will answer your questions!