Precious Metals

Reuters reported gold outperformed equities for the second day, edging up to $1,577.86 an ounce as investors bought the metal as a safe-haven due to Greece’s need for more debt restructuting.

Reuters reported gold outperformed equities for the second day, edging up to $1,577.86 an ounce as investors bought the metal as a safe-haven due to Greece’s need for more debt restructuting.

As quoted in the report:

Gold prices seesawed early, then reversed losses as EU officials said Greece probably will not be able to pay its debts, making further restructuring necessary.

Jonathan Jossen, an independent COMEX gold options floor trader, commented:

Gold is mostly taking its cues from the euro-dollar. Volume is pretty decent, suggesting there are good underlying bids here.

Click here to read the full Reuters report.

MARKETS

Markets
TSX20179.81+187.93
TSXV680.49+7.47
DOW33761.05+424.38
S&P 5004280.15+72.88
NASD13047.19+267.27
ASX7032.50-38.50

COMMODITIES

Commodities
Gold1801.89+0.36
Silver20.82+0.02
Copper3.68-0.03
Palladium2224.19+14.20
Platinum965.47+2.48
Oil91.88-2.46
Heating Oil3.51+0.03
Natural Gas8.78-0.09

DOWNLOAD FREE REPORTS

×