Gold price traded higher on the Greek debt problem. The International Monetary Fund (IMF) offered Athens three more weeks to repay IMF loans. But International Monetary Fund Director Christine Lagarde said in an interview to a German newspaper that a Greek exit from the Eurozone is possible.
The weaker-than-expected revised U.S. GDP also supported gold price. The revised U.S. GDP declined 0.7% in the first quarter, missing expectations for a 0.1% fall, down from the previous estimate of a 0.2% rise. The downward revision was partly driven by an upward revision to imports.
June futures for gold on the COMEX today rose to 1193.30 dollars per ounce.