Gold and Silver Market Morning Report for June 24, 2015
by Julian Phillips
Gold and Silver Today: Gold: New York closed at $1,177.60 down $7.50. Asia held the price at New York’s close and then London took it down $2 at the opening. The dollar was stronger at $1.1201 up 0.60 of a cent and the dollar Index was higher at 95.20 up from 94.81. The gold price was set this morning at $1,175.75 down $7.60. The euro equivalent was €1,049.68 down €4.86. Ahead of New York’s opening, gold was trading in London at $1,177.60 and in the euro at €1,051.71.
Silver Today – The silver price fell to $15.83 down 37 cents in New York. Ahead of New York’s opening it was trading at $15.90.
With a day to contemplate the new proposals from the Greek government it appears that they have been rejected by the E.U. Indeed, Tsipras informed the media that these proposals had been rejected already. But the markets have not reacted to this yet. There is a further emergency meeting of the E.U. Finance Ministers this evening, at which their counter proposals will be pressed upon the Greeks. The E.U. have rejected more taxes on the wealthy knowing they will not be paid. From where we stand, the proposals of more taxes, in a country where tax evasion is a national sport also seem meaningless. A slow increase in the pensionable age [currently 50] may well not be seen as substantive enough. It also seemed only possible, that the Greek Parliament would support the proposals in the first place. Further demands from the E.U. may prove too much for the Parliament.
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