Off the wire
• EP leaders call for "credible" response from Athens after referendum  • FinMin of Weimar Triangle discuss Greece situation in Warsaw  • UN chief to host global Ebola recover conference on Friday  • Chinese ambassador to Spain recommends to reinforce bilateral cooperation  • EAC leaders call for delay of Burundi elections  • Urgent: U.S. dollar rises against euro amid Greece worries  • Finnish analysts envision Greek exit from euro zone  • Urgent: Gold up on uncertainty in Greece  • News Analysis: Outcome of Greek referendum suggests personal victory for Tsipras  • Spanish stock market falls 2.22 pct on Monday  
You are here: 　 Home

1st LD Writethru: Gold up on Greece uncertainty

Xinhua, July 7, 2015 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange rose Monday as the crisis in Greece drove investors to gold as a safe haven.

The most active gold contract for August delivery rose 9.7 U.S. dollars, or 0.83 percent, to settle at 1,173.20 dollars per ounce.

Uncertainty over the future of the Greek banking system drove investors away from European equities and towards gold as a safe haven Monday as Greece was unable to meet a June 30 deadline to pay back a key loan from the International Monetary Fund. Capital controls and ATM withdrawal limits are in place and there are lines for ATM withdrawals in Athens, capital of Greece.

In a national Greek referendum held Sunday, the Greek people rejected the latest deal from the European Union, and the Greek negotiators have already resumed negotiations in Brussels, Belgium. Analysts and traders are concerned that Greece could exit the Eurozone, which would give additional support to gold.

Silver for September delivery added 19.1 cents, or 1.23 percent, to close at 15.753 dollars per ounce. Platinum for October delivery fell 17.7 dollars, or 1.63 percent, to close at 1,066.30 dollars per ounce. Endite