Gold
declined on increasing hopes about Greece
June
23, 2015
The Gold
extended its losses to trade around $1182 per ounce as the hopes of investors
that Greece would reach a deal with its creditors has decreased the demand for
the yellow metal as a safe-haven asset, while the equity markets have recovered
significantly. In fact the Gold prices have been supported by the uncertainties
about avoiding the debt defaults which could push the Greece
to exit from eh Euro area.
The demand for
Gold is also affected by the expectation that the Federal Reserve will hike
U.S. interest rates later this year,
amid the release of positive data from the U.S economy, pushing the U.S Dollar
to increase significantly.
