TeleTrade - Analytics

TeleTrade

518.25 6.50/10
57% of positive reviews
Real

23.06.2015 06:59 Gold is taking breath after yesterday’s sharp decline

 

Gold is currently at $1,185.70 ( 0.14%) an ounce. The non-interest-paying metal ended Monday with a 1.3% drop amid gains in equities and hopes for a deal between Greece and its lenders. A deal would prevent default and reduce demand for safe haven.

 

Gold used to be supported by uncertainty over Greece, however yesterday Greece's government presented new budget proposals and they may form a base for an agreement by the end of this week.

 

If the Greek factor is eliminated, bullion will respond to its fundamentals, which don't look encouraging considering a relatively strong U.S. dollar.

 



To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree