Gold Lower In Level Sideways, The Failure Of The Emergency Meeting Of Greece

The observed stable gold price weakened on Tuesday (23/25) this afternoon, still with the attention of investors who have not budged from their deal debt chaos between Greece and its creditors, in the middle of great expectations will reach an agreement at the last minute ahead of the deadline for the payment of debts, before bankruptcy if Greece defaulted.

Gold

Gold Futures for August delivery on the Comex Division of the New York still attached to dikisaran 1, 185.70 per troy ounce in early European session opening today. The gold price is then decreased again towards the range 1, 183.71 with a fairly small trade volume.

The Euro zone Finance Ministers on Monday yesterday, failed to agree on the launch of a bailout for Greece even though it has held an emergency meeting. However, there is the possibility of a new proposal put forward by PM Greece Alexis Tsipras still will be studied again, and kesekapakan expected to be retrieved at the end of this week.

Respond to new proposals that Greece, Chancellor of Germany, Angela Merkel, said that the proposals were "good enough to be discussed again at the next meeting". Meanwhile, according to the IMF Chief, Christine Lagarde, the new proposal still requires a lot of effort to approve it. This means, a deal is not reached, and the talks should resume tomorrow through Friday.

Gold Falls Again

The movement of the gold had been dropped previously thought by analysts and traders of gold, Ferdi Jo, from About Forex (read also: Gold Falls back in a Correction Movement). According to him, the number of issues that are pushing each other with opposite direction currently, making gold still continues to be present in the movement phase correction is getting longer. Gold falls back in the movement of a correction after the release of U.S. housing data plus and European stocks rise following the development of the new optimism over the talks Greece's debt issues.