Gold settles at 1-week high on Greek crisis

Gold futures settled at their highest level in a week on Monday as a worsening financial crisis in Greece helped boost the metal’s haven appeal for a second straight session.

August gold GCQ5, -0.23%  added $5.80, or 0.5%, to settle at $1,179 an ounce on the Comex — its highest settlement since June 22. Prices tacked on 0.1% on Friday, after posting losses for five sessions in a row.

September silver SIU5, -0.45% fell by 7.3 cents, or 0.5%, to $15.695, extending its decline from Friday.

Gold “has yet to really react to the Greek situation,” said Julian Phillips, founder of and contributor to GoldForecaster.com. Gold and silver prices are likely to only react “after the ’ripple’ moves [fully] out of the [European Union] to the euro exchange rate and to global markets.”

Click Here To Register For Free Trial Services OR Give A Missed Call : +60350219047 Follow Us On Twitter : www.twitter.com/epicresearchmy Like Us On Facebook : www.facebook.com/EpicResearchMalaysia Need Any Assistance Feel Free To Mail Us at : info@epicresearch.my