The price of gold is still a bearish move in the Asian session Friday (10/07) morning with investors who are still observing developments in Greece, where the issue of any new agreement must be reached by the end of this week. On the Comex Division of the New York, gold futures for August delivery declined 0.15 percent to the price of 1, 157.50 per troy ounce.
- gold coins
A night earlier, gold futures is also a bit of SAG in the middle of the rise of the U.s. dollar as well as the Chinese equity markets rally sharply. In addition, officials in the eurozone are preparing an emergency meeting on Sunday with Greece tomorrow in Brussels. Authorities of Greece has prepared a proposal to open an emergency bailout to its creditors, three hours before the deadline last night. According to the news offered by Guardian, Greece has agreed to get an aid package of funding and budget cuts of up to 13 billion euros.
In China, the Shanghai composite stock Index started bouncing up from keterpurukannya yesterday and got the tally more than 5.75 percent in the movement of one day, the strongest since March 2009. China is the world's largest gold producers, as well as the largest consumer of gold after India's number two.
According to analysts of gold About Forex, Gold hard-hit range of $ 1,161 and preparing to form a bullish movement corrective. However, it was thought, had started metal strong enough to penetrate high levels, so interpreted the gold still further bearish.
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