Gold Holds Drop as Greek Deal Shifts Focus to Fed’s Rate Timing

Gold held a drop after Greece reached a deal with creditors that could pave the way to a new bailout, damping demand for the metal as a haven asset and shifting investors’ focus to the probable timing of a U.S. interest-rate increase. Bullion for immediate delivery was at $1,156.88 an ounce at 7:35 a.m. in Singapore from $1,157.98 a day earlier, according to Bloomberg generic pricing. The metal declined as much as 1.1 percent on Monday...

Gold Drop a Third Day on Greece Bailout Deal, Fed Rate Outlook

Gold fell for a third straight session after Greece secured a deal paving the way to a new bailout and as investors weighed the timing of a U.S. interest-rate increase. Gold futures for delivery in August fell 0.2 percent to settle at $1,155.40 an ounce at 2:04 p.m. on the Comex in New York. The Bloomberg Dollar Spot Index, a gauge of the greenback’s strength against 10 major currencies, climbed as much as 0.7 percent, reducing the...

Japan Shares Rise Third Day as Yen Falls on Greece Bailout Deal

Japanese stocks rose a third day as the yen weakened to an almost two-week low amid optimism over Greece bailout. Insurers led gains on the Topix index. The Topix climbed 1.5 percent to 1,637.02 as of 9:01 a.m. in Tokyo after jumping 1.9 percent on Monday for its biggest advance this year. The Nikkei 225 Stock Average added 1.3 percent to 20,347.96. The yen slid 0.1 percent to 123.59 per dollar after falling 0.5 percent yesterday. Greek...

U.S. Stocks Rally After Greece Reaches Agreement With Creditors

U.S. stocks rose, with the Standard & Poor’s 500 Index posting its best three-day rally this year, after Greece reached an agreement with its creditors. The S&P 500 added 1.1 percent to 2,099.52 at 4 p.m. in New York, closing near its average price during the past 50 days after the gauge earlier surged above its 100-day moving average for the first time this month. Greek Prime Minister Alexis Tsipras surrendered to European...

Portugal, Italy Lead Biggest European Stock Rebound Since 2011

European stocks extended their biggest rally since 2011, with benchmark gauges of Portugal and Italy surging more than 10 percent in four days, as Greece and its creditors reached an agreement paving the way for a new bailout. The Stoxx Europe 600 Index rose 2 percent to 396.46 at the close of trading in London, taking its four-day increase to 6.4 percent. Portugal’s PSI 20 Index advanced 1.8 percent, and Italy’s FTSE MIB Index climbed...