• Home
• /
• Business

Gold declines on dollar after Greek debt deal

Spot gold was down 0.7 per cent at $1,155.54 an ounce by 0954 GMT, after posting three straight weekly declines.

Gold slipped almost one per cent on Monday as the dollar rose against the euro after eurozone leaders agreed a roadmap to a bailout for Greece, while signals the Federal Reserve was still on track to raise rates this year also weighed on prices.
EU officials said Greek Prime Minister Alexis Tsipras finally accepted a compromise on German-led demands for the sequestration of Greek state assets to be sold off to pay down debt.
Spot gold was down 0.7 per cent at $1,155.54 an ounce by 0954 GMT, after posting three straight weekly declines.
US gold for August delivery fell 0.3 per cent to 1,154.00 an ounce.

• Gold and Forex