Gold Price Extends Early Losses to Trade Solidly Lower

New York (Jun 22)  Gold prices are under stronger selling pressure in late-morning trading Monday, and have extended moderate early losses to trade sharply lower on the day. Keener investor risk appetite on hopes of a Greece-EU debt-restructuring deal have boosted U.S. and European stock markets, which in turn has pressured safe-haven gold. However, it would not be surprising to see a last-minute snag in the Greece-EU deal develop, which would likely give the gold market a boost. August gold was last down $19.20 an ounce at $1,182.70.

Contrarily, spot silver is up 5 cents to $16.17, while platinum was battered down $21 to $1,062 and palladium dropped $10 to $699...a 2-year low.

Source: KitcoNews