Greece and its European creditors kicked off a second round of refunding negotiations, and, although analysts are expecting to see a last-minute deal made, it won’t happen just yet. Edward Meir, commodity consultant at INTL FCStone, says gold prices could end up trending lower as a result of potential agreement talk, but also warns that investors should expect to see volatility in the near-term. “This crisis is very much a fluid situation and so we would not necessarily advocate aggressively going short at this stage either,” he says.
