Gold futures settled
lower for a fifth session in a row on Thursday, as traders tracked
discussions about a debt deal for Greece that appeared to be
increasingly unlikely to materialize ahead of a deadline at the end of
the month.
Gold for August delivery on Comex fell
$1.10, or 0.1%, to settle at $1,171.80 an ounce. Tracking the
most-active contracts, that was the fifth straight session of losses and
prices stand at their lowest settlement since June 5.
September silver declined by 4.9 cents, or 0.3%, at $15.841 an ounce.
Greek Prime Minister
Alexis Tsipras on Thursday met with heads of the International Monetary
Fund, the European Commission and the European Central Bank, which
oversee Greece’s bailout, to agree on a reform plan to present to the
Eurogroup. The International Monetary Fund said Greece would be
immediately be in arrears if it fails to make a $1.7 billion debt
repayment due June 30.
The dollar Thursday,
however, was little changed against its major rivals following
better-than-expected economic reports. Fresh readings on U.S.weekly
jobless claims and consumer spending roughly matched the expectations of
economists polled by MarketWatch.
In other metals trade,
October platinum tacked on $9.20, or 0.9%, to $1,083.70 an ounce, while
September palladium slumped by $16.35, or 2.4%, to $679.35 an ounce.
Source : MarketWatch
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