Silver shines but gold turns dull
Bullion metals ended in a mixed mode on Monday, 22 June 2015 at Comex. Gold futures fell on 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 dropped $9.30, or 0.8%, to $1,192.60 an ounce,
July silver rose 1.1 cents, or 0.1%, to $16.12 an ounce.
European and U.S. stock indexes rallied Monday on reports Greece and the European Union are very close to agreement on a debt-restructuring deal, after Greece submitted a revised debt-repayment plan during the weekend.
Greece and EU officials are met Monday to try to finalize a debt-restructuring deal. While no agreement was reached, both parties were reported upbeat about prospects for an agreement to be reached this week. However, there are some reports that said some EU officials do not believe a deal with Greece is imminent. Meantime, the European Central Bank on Monday had to increase the emergency lending mechanism to Greece due to the increase in public withdrawals of cash from banks.
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The U.S. dollar index was modestly higher to start the trading week, while crude oil prices were slightly lower. These two key outside markets were in a mildly bearish posture for the precious metals Monday.
China markets were closed Monday due to a holiday.
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