Gold prices are heading higher today, thanks to the latest news out of Europe. Greek leaders agreed to austerity measures, and that has the euro soaring -- and pressure on the dollar. Now, instead of defaulting messily in March, Greece will remain intact, and the euro will not be put at risk.

Another bit of news driving gold prices higher is the fact that Britain has announced more quantitative easing. Another 50 billion pounds will be pumped into the economy, in an effort to stimulate growth. The news is gold-positive, since gold is often seen as a hedge against inflation.

With indications that the global economy is ready to recover (including news abou lower unemployment claims in the United States), it is little wonder that gold bugs are enthusiastic. Gold is getting some play as a commodity, as well as an inflation hedge, and it is ready to move higher. 

Gold prices are lower today as stocks take a beating on the latest news out of Greece. Today, gold prices are acting a lot like commodities do in these situations and pulling back along with stocks. Oil prices are also lower today.

Right now, talks about a solution to Greece's debt crisis have been put on hold. The result is that investors are worried about what could be next. US dollar is gaining as a result, and putting pressure on the euro and on gold prices.

However, some think that the current dip in gold prices is only temporary. There are those who expect that gold prices will rise in the future -- possibly even doubling. Spread bets and CFDs on commodities, though, should consider that, right now, gold prices and oil prices are lower.