Gold and Silver Market Morning Report for July 3, 2015
by Julian Phillips
Gold and Silver Today: Gold –New York closed at $1,165.60 down $2.90. Asia and London took it back up to $1,169.50. The dollar was 0.60 of a cent weaker at $1.1054 and the dollar Index was lower at 95.93 down from 96.37. The LBMA gold price was set this morning at $1,168.25 up $3.95. The euro equivalent was €1,052.67 up €1.67 Ahead of New York’s opening, gold was trading in London at $1,168.60 and in the euro at €1,053.03.
Silver Today – The silver price fell to $15.65 up 6 cent in New York. Ahead of New York’s opening it was trading at $15.67.
Unbelievably the I.M.F. has put its foot in it! The report just issued clarifies that Greece needs to be given 40 yrs to repay its debt and needs lower interest rates and for a portion at least of its debt to be written off if it is to return to growth. Even then it will still have debt to GDP of 150%. For those Greeks who understand this, a No! vote to the past offer from the E.U. seems necessary to get the better deal one like that of the IMF’. So the story still has a long way to go. Nevertheless, the markets may react to the vote if a No! rules the day.
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