High gold prices with falling financial markets

High gold prices with falling financial markets

Gold rose on Monday as a result of growing fears about a possible failure of Greece to repay the debt, which has plagued European stocks and the euro gained, but the yellow metal did not succeed in achieving significant gains because investors continue to worry about the distant future.

European stocks tumbled more than 2 percent as the single currency fell with the closure of banks in Greece and ATMs, while more rumors spread after the collapse of talks between Athens and its lenders.

Initially gold that usually benefit from the uncertainty in the financial markets rose, to its highest level in a week at $ 1186.91, but gave up part of those gains later.

By at 09:37 GMT, gold rose 0.2% to $ 1176.52 an ounce.

Silver surged 0.3% to $ 15.8 per ounce.

The outlook continues to point to reach an agreement with Greece, but the potential collapse has grown significantly over the weekend. Simon Wicks said -mn Bank of Nova Scotia

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