Gold was hovering around $1,200 per ounce level in the Asian trading hours on Monday with the market’s attention focused on Greek debt negotiations.
The spot gold price was last at $1,197.4/1,198.5 per ounce, down $2.60 on Friday’s close. Trade has ranged from $1,197.6 to 1,200.5 so far.
“It is likely to be a quiet session for the metal prior to any Greek debt decision,” MKS said.
Greek prime minister Alexis Tsipras offered a new package of reforms to foreign creditors last night ahead of the emergency eurozone summit meeting later today. The Mediterranean country has until June 30 to repay a 1.6 billion euro loan to the IMF.
Today’s data includes eurozone’s consumer confidence and existing home sales number from the US.
As for other precious metals, silver was little changed at $16.07/16.12. Platinum at $1,076/1,801 fell $7 while palladium was unchanged at $705/711.
The Shanghai Futures Exchange (SHFE) is closed for the Dragon Boat Festival today.
The post Gold hovers around $1,200, all eyes on Greece appeared first on The Bullion Desk.
No comments:
Post a Comment