Gold Plunges Again

On Tuesday, the Gold prices showed a decline with the dropping of the Euro because the Greece is approaching on defaulting level on its debts to the International Monetary Fund and with the continuous fear from the investors regarding the metal for a long term matter. This decline appeared just only before hours that Greece is defaulter on a loan of 1.6 billion Euros (1.8 billion U.S dollars) to the IMF International Monetary Fund. Earlier this week, the IMF met with creditors and asked to the Greek Prime Minister Alexis Tsipras to arrange a referendum on bailout package on 5th July 2015.

The Gold price declined 0.4 percent in the spot transactions with 1174.67 U.S dollars per ounce at the timing of 09:44 GMT. The metal price declined in the U.S futures contracts delivery of August at 4.70 U.S dollars to 1174.30 U.S dollars per ounce. The spot prices also bend to suffer one 1 percent loss per month. The metal has taken a little by researchers from safe shelters to reinforce albeit benefit from the periods of financial market confusion. The price of Silver also declined at 0.5 percent with 15.67 U.S dollars per ounce. The Platinum price rose 0.3 percent with 1080.30 U.S dollars per ounce and the price of Palladium also rose 1 percent with 672 U.S dollars per ounce.

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