EU Crisis Unabated

Talk about diminishing returns. The Greek bailout managed to calm markets for a few days. Now, even before the ink is dry on the Irish bailout, the markets are again sending credit default swap rates for various EU sovereign debts sky high. While I had expected the crisis remain unresolved, I didn't expect the market to shift its focus so quickly onto the other EU debt-ridden countries.

Result: Closed a small speculative gold position out too early.