Tangible Investments

June 29


Weekly Gold Market News

Greek Bailout Deal To Go Before Voters

Los Angeles CA, (Tangible Investments) - by James O'Dell - Gold and Silver prices inched up on Monday, with Gold rising $1.90 or 0.16 percent at the time of this writing, to $1,177.40 an ounce following failed Greek bailout talks that broke down over the weekend after the yellow metal ended the week lower at $1,175.50 an ounce on Friday. The price of Silver is up 0.04 or 0.25 percent to $15.85 an ounce, after finishing the week lower at $15.81 an ounce. The Gold/Silver ratio, a measure of the number of Silver ounces needed to buy an ounce of Gold, rose to 74.35.

The week began with the world's largest Gold backed exchange traded fund (ETF), seeing an inflow on Monday of 3.5 tons of Gold, its largest one day jump in the past 10 weeks. European leaders gathered in Brussels to attend yet another emergency summit to salvage the Greek bailout deal. Many felt that Greece might resort to selling off its Gold reserves to pay the debt should negotiations fail, but Commerzbank AG says Greece is unlikely to sell its Gold, valued around $4.3 billion, because it would only postpone a default.

“Selling Gold would deprive the country of its only really valuable reserves, which could be put to good use at a later date, perhaps to stabilize a new currency if Greece exits the euro,” wrote Commerzbank analysts, including Eugen Weinberg. “We think it very unlikely that Greece is willing to go down this path.”

Capital Economics analysts said last week that they expect demand from India to push Gold prices over $200 higher by year-end. “Overall, we believe India’s Gold demand will reach 900-1,000 tons this year, up from about 800 tons in 2014 when demand was constrained by high import duties,” said Capital's Simona Gambarini. “This is one factor underpinning our forecast that Gold prices will rise to $1,400 per ounce by year-end.”

Expectations of the Fed's first interest rate increase in nearly a decade continue to weigh heavily on Gold and is keeping the yellow metal contained within a narrow range. “The value of the dollar has depreciated recently, but it is still much stronger than prior hiking cycles, and this will likely continue to factor into the FOMC’s future policy decisions,” said economists at Nomura. ”Economic and financial developments in coming months likely will drive FOMC decisions."

The latest proposal on the table by Greece’s Troika of creditors — the International Monetary Fund (IMF), the European Central Bank (ECB) and the European Commission (EC) — would add a five month extension and 15.5 billion euros ($17.3 billion) of funding to Greece’s current bailout program. Greek Prime Minister Alexis Tsipras broke off talks on Saturday and announced that he would put the new terms before Greek voters in a July 5 referendum.

It's important to protect your hard earned wealth during these times of economic and geopolitical uncertainty, and at Tangible Investments (learn about us here), it doesn't matter whether you're new to precious metals or a seasoned veteran, you will always be dealing with top industry experts.

Take a moment and browse our vast selection of valuable collectibles, then call Toll Free 1.800.741.5014 today and let the helpful staff at Tangible Investments assist you in your next purchase or sale. Tangible Investments is the leading buyer of rare, Gold and Silver coins, art, antiques, diamonds,sterling and flatware. We also loan against anything of value and offer more money at half the loan cost.

Latest Spot Prices


Other News This Week

US Mint Sees Gold Sales Soar While Greece Awaits Referendum

Los Angeles CA, July 3 (Tangible Investments) - by James O Dell - Gold was higher in electronic trading on Friday, adding $2.30 or 0.20 percent to $1,168.50 an ounce after retreating $2.50 or 0.21... [Read More]

Iran Repatriates 13 Tons Of Gold Due To Easing US Sanctions

Los Angeles CA, July 2 (Tangible Investments) - by James O Dell - The price of Gold extended losses to a third straight day on Thursday, as the yellow metal slid $6.60 or 0.56 percent,... [Read More]

Gold Slow To React To Greek Debt Crisis

Los Angeles CA, July 1 (Tangible Investments) - by James O Dell - The Gold price turned modestly lower on Wednesday, easing $3.00 or 0.26 percent, at the time of this writing, to $1,169.60 an... [Read More]

Gold Dips Sharply But Greek Referendum Could Spark Rally

Los Angeles CA, June 30 (Tangible Investments) - by James O Dell - The Gold price dipped sharply in early trading on Tuesday, easing $7.10 or 0.60 percent at the time of this writing, to... [Read More]

China Gold Demand Soars While Greek Banks Remain Closed

Los Angeles CA, June 29 (Tangible Investments) - by James O Dell - Gold and Silver prices inched up on Monday, with Gold rising $1.90 or 0.16 percent at the time of this writing, to... [Read More]

About Tangible Investments

Led by renowned coin expert Silvano DiGenova, Tangible Investments is a leader in the Gold IRA, Bullion, Rare Coins, Jewelry, Fine Watches, Fine Art, and Antiques markets. With 30+ years in business and a collective 200+ years of industry experience, Tangible Investments is one of America's most successful rare coin traders and the top buyer in the country. Call Us Today at 1-888-655-9255 to see how we can help you diversify your portfolio and protect your retirement savings.

Tangible Investments • email: info@gocoins.com • Call Us: 1-888-655-9255
Huntington Beach: 16121 Beach Blvd. • Huntington Beach, CA 92647
Laguna Beach: 1910 S Coast Hwy • Laguna Beach, CA 92651
Copyright (c) 2014, Tangible Investments, LLC. All rights reserved.