Gold price traded higher on news that debt talks were broken down. Greek Prime Minister Alexis Tsipras called for a referendum on Saturday morning. The Eurogroup has not agreed to extend the Greek bailout programme.
The referendum is scheduled to be on July 05. Greeks will be asked to vote if they want to accept the aid proposal by the country's creditors.
Greece's parliament approved a referendum on yearly Sunday.
The Greek government Sunday announced its decision to shut the country's banks and to impose capital controls to avert the collapse of its financial system. Banks will be closed until July 06.
Daily cash withdrawals has been limited to 60 euros and payments and transfers abroad has been banned.
Greek Prime Minister assured Greeks that their bank deposits were safe.
Stock exchange in Greece also remains closed.
The weaker-than-expected U.S. economic data also supported gold price. The National Association of Realtors (NAR) released its pending home sales figures for the U.S. on Monday. Pending home sales in the U.S. rose 0.9% in May, exceeding expectations for a 1.2% increase, after a 2.7% gain in April. April's figure was revised down from a 3.4% rise.
August futures for gold on the COMEX today rose to 1177.70 dollars per ounce.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.