The gold price was effectively unchanged on Wednesday, with the stronger dollar once again capping any intraday gains.
Spot gold was last at $1,186.80/1,187.50 per ounce, down just 20 cents for the session, having hit a fresh two-week low earlier in the day at $1,183.80.
Similarly, silver was unchanged at $16.68/16.73 per ounce while platinum was $1 lower at $1,119/1,124 and palladium was up $6 at $783/789.
The dollar again built on the gains made earlier in the week, hitting another fresh one-month high against the euro at 1.0819.
While there is no resolution to the Greek debt saga yet, Prime Minister Alexis Tsipras claimed this afternoon that the country might be on the brink of an agreement with its creditors.
Tsipras declared publicly following talks today that Greece is on the “final stretch” to secure the aid it needs and that it is “close to an agreement”. Greece must repay four loans to the International Monetary Fund in June totalling 1.6 billion euros.
European stock markets have all jumped on the news, with the DAX up 1.26 percent, the Stoxx 1.72 percent and the Cac 40 almost two percent.
Confidence in the European economy remains high – earlier, the GfK German consumer climate at 10.2 came in better than expected, up from 10.1 previously and the highest reading since October 2011.
(Editing by Mark Shaw)
The post Gold price unchanged, capped by dollar hitting fresh 1-mth high appeared first on The Bullion Desk.
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