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    08.07.2015 15:20 Gold traded higher as investors focussed on the release of minutes of the Fed’s last monetary policy meeting

    Gold traded higher as investors focussed on the release of minutes of the Fed's last monetary policy meeting. Market participants hope to find some signals when the Fed will start raising its interest rates.

     

     

    The Greek debt crisis and a drop in the Chinese stock market also remained in focus.

     

     

    Greece has submit a formal application for a three-year loan facility from the European Stability Mechanism (ESM) on Wednesday.

     

     

    "The Loan will be used to meet Greece's debt obligations and to ensure stability of the financial system," Greek Finance Minister Euclid Tsakalotos said in the letter.

     

     

    He did not mention the exact amount of the financial aid.

     

     

    European Council President Donald Tusk said on Tuesday that just five days left for Greece to reach a deal with its creditors to save it from bankruptcy.

     

     

    European Commission President Jean-Claude Juncker said on Tuesday that authorities are prepared for all outcomes of the negotiations with Greece about its debt crisis, including a scenario of the Greek exit from the Eurozone.

     

     

    August futures for gold on the COMEX today rose to 1163.70 dollars per ounce.

     

     


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