Gold and silver rose
on haven demand after Greece voted against yielding to further austerity
measures in a weekend referendum, risking the country’s exit from the
euro.
Bullion for immediate
delivery climbed as much as 0.6 percent to $1,175.45 an ounce and was at
$1,173.33 at 8:03 a.m. in Singapore, according to Bloomberg generic
pricing. Gold in euros rose as much as 1.8 percent to 1,068.87 euros an
ounce.
Investors shifted away
from risky assets on the result of the referendum, with gold rising
while stock futures and oil fell. Greece’s exit from the common currency
after years of crisis would set a precedent for others that membership
is reversible. European leaders including Germany’s Chancellor Angela
Merkel must now decide whether a rescue is still possible, while at the
European Central Bank policy makers assess if the program of Emergency
Liquidity Assistance, known as ELA, to Greece’s banks should continue.
With all the votes
counted, the result put support for the ‘no’ camp at 61.3 percent, while
38.7 percent voted ‘yes,’ according to the Interior Ministry.
Chancellor Merkel will head to Paris on Monday for talks with President
Francois Hollande to map out a way forward.
Source : Bloomberg
0 komentar :
Post a Comment