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Gold rises with Greece's failure to reach an agreement on debt
6/26/15
Follow-up - and babysit - Gold rose on Friday, recovering from its lowest level in more than two weeks with Greece's failure to reach an agreement with international creditors, although expectations of raising US interest rates limited the gains of the metal.
The price of gold increased 0.1 percent in the spot transactions to $ 1174.2 per ounce (an ounce) by 0645 GMT. The price of the metal dropped to its lowest level since the eighth of June at $ 1171.02 an ounce on Thursday.
Said James Steel, analyst at HSBC in a research note "ministers ended their meeting of euro zone finance without an agreement after three institutions creditor finally made a proposal to provide funding in exchange for reforms."
"Despite the positive consequences that may successors Greece's inability to pay its debts to gold metal prices have not recorded significant movements indicating that investors have yet to focus on gold as a safe haven in light of the Greek crisis."
Greece once again failed to conclude an agreement with international creditors, on Thursday, which paves the final on Saturday to try to avoid either default on debt next week or standby to protect the euro from the financial market turbulence area.
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6/26/15
Follow-up - and babysit - Gold rose on Friday, recovering from its lowest level in more than two weeks with Greece's failure to reach an agreement with international creditors, although expectations of raising US interest rates limited the gains of the metal.
The price of gold increased 0.1 percent in the spot transactions to $ 1174.2 per ounce (an ounce) by 0645 GMT. The price of the metal dropped to its lowest level since the eighth of June at $ 1171.02 an ounce on Thursday.
Said James Steel, analyst at HSBC in a research note "ministers ended their meeting of euro zone finance without an agreement after three institutions creditor finally made a proposal to provide funding in exchange for reforms."
"Despite the positive consequences that may successors Greece's inability to pay its debts to gold metal prices have not recorded significant movements indicating that investors have yet to focus on gold as a safe haven in light of the Greek crisis."
Greece once again failed to conclude an agreement with international creditors, on Thursday, which paves the final on Saturday to try to avoid either default on debt next week or standby to protect the euro from the financial market turbulence area.
[You must be registered and logged in to see this link.]
