Recovery fears push gold to all-time record

Date: Wed, 12 May 2010 12:01:00 -0400

RECOVERY FEARS PUSH GOLD TO ALL-TIME RECORD
Gold futures surge to a fresh all-time record on Wednesday, as
nervousness surrounding the European rescue package and its effects in
the global economy boil over.

EU PACKAGE SUCCESS ONLY IF WAGES CUT: STRATEGIST
Whether the European Union financial stability package is successful
will be determined by the ability of some of the troubled euro-zone
nations to enact wage cuts, a hedge fund strategist said Wednesday.

EURO-ZONE GDP GROWS, BUT MOMENTUM QUESTIONED
Germany's economy unexpectedly grows in the first quarter compared
with the last three months of 2009, signaling that the recovery in
Europe's biggest economy remains on track.

SPAIN OUTLINES 5% WAGE CUT TO SLASH DEFICIT
Spain announces a series of measures to shrink its deficit, responding
to pressure from the European Union and financial markets to do more
to remedy its finances.

DEVELOPED MARKETS BECOMING MORE LIKE EMERGING
Developed market price swings could become more like those seen in
emerging markets owing to the credit crunch and the current sovereign
debt crisis, according to a leading quantitative analyst.