Gold dented by hopes for Greek deal

Gold futures fell Monday, robbed of haven-related support as optimism builds over the potential for a deal to end Greece’s debt standoff with its international creditors.

Gold for August delivery on Comex GCQ5, +0.15%  dropped $9.30, or 0.8%, to $1,192.60 an ounce, while July silver SIN5, -0.35%  rose 1.1 cents, or 0.1%, to $16.12 an ounce.

European equities rallied and U.S. stock-index futures pointed to a higher open on Wall Street after Greece submitted proposals Monday that make a potentially major concession on cutting deficits in its pension system, though eurozone officials warned that an immediate breakthrough was unlikely.

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