Risk Appetite Keener On Greece-EU Debt Deal Hopes
Kitco News – Gold prices are lower in early US trading, pressured by European and U.S. stock indexes being in rally mode on increased risk appetite in the world market place. There are reports Greece and the European Union are very close to agreement on a debt-restructuring deal, after Greece submitted a revised debt-repayment plan during the weekend.
The 6pm Recap with Gary Wagner: A See-Saw Day In Almost Every Market Although Crude, China Suffered Most
For a variety of factors, westerners tend to view China’s rise to the top as inevitable. However, this certainly isn’t so when looking at the world’s supposedly second-largest economy. Today saw the Shanghai and CSI indexes plunge more than 6% each.
Gold Market To Watch Greece Turmoil, U.S. Dollar Next Week
Gold is expected to remain caught in a tug of war between the U.S. dollar and safe-haven demand as Greece’s repayment deadline quickly approaches, according to commodity analysts.
Main Street Remains Bearish On Gold, Wall Street Shifts To Neutral
The majority of Main Street gold investors remain bearish on the gold market next week while market professional are more neutral, according to the Kitco News Wall Street vs Main Street Weekly Gold Survey.
Read moreSilver Mining Stocks Were Up; Who Led The Way?
With another Fed meeting and no rate hike to report, all eyes shifted to the mess that is Greece. The metals had another reasonable week, with gold prices looking to post a second consecutive winning week.
Read moreCould Greece Sell Its Gold Reserves?
(Kitco News) – Eleventh-hour negations between Greece and its creditors passed Thursday with no resolution in sight but one European Bank said that the beleaguered nation has one more Hail-Mary shot, but it’s only a short-term solution and could exacerbate the situation.
Cautious Portfolio Managers Increasing Cash Positions – Bank Of America Survey
Kitco News – Cash is king among cautious portfolio managers, according
to the June Bank of American Merrill Lynch (BAML) Fund Manager Survey.
Greece Remains On The Front Burner
(Kitco News) – Gold and Silver prices are trading near unchanged in early U.S. dealings Today, as those markets are in a pause mode after Thursday’s Solid gains. There remains some risk aversion in the market place Friday amid increasing worries about Greece defaulting on its debt obligations to the European Union and International Monetary Fund, after no progress was made at a meeting between Greece and EU officials Thursday
Gold Pauses After Solid Gains Thursday
Gold futures prices near steady in early U.S. trading Friday, as the market pauses and consolidates after big gains recorded Thursday, in which the yellow metal hit a four-week high of $1,205.70.
Read moreSix 6 PM Recap With Gary Wagner: Looking Beyond The FOMC Press Release For Gold And Equities
Gold is holding a very fine gain despite the fact that the U.S. dollar has recovered some its losses. We need to be wary of what lies over the horizon, however, and we do mean the immediate horizon.
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