Today’s AM LBMA Gold Price was $1,176.50 , €1,060.82 and £749.10/oz.
Friday’s AM LBMA Gold Price was $1,174.40, €1 ,048.38 and £745.89/oz.
Gold in Singapore for immediate delivery climbed 0.7% to $1,183.18/oz near the end of the day.
The yellow metal rose today as investors piled into safe haven assets as the Greek debt crisis took a turn for the worse over the weekend and a Grexit appear imminent.
U.S. gold futures also climbed 1% to a session high of $1,187 before capping gains. Silver rose nearly 1% along with gold.
Riskier assets fell such as U.S. equity futures, Asian stock markets and the euro fell as investors made a beeline into safe-haven assets like gold and silver.
Friday’s U.S.CFTC data showed speculators upped bullish bets in COMEX gold futures and options and switched to a net short position in silver for the week ending June 23.
In Asia, the People’s Bank of China slashed its one-year lending rate by 25 basis points to 4.85%, and lowered the amount of reserves certain banks are required to hold by 50 basis points. This has been its fourth cusince November. The central bank also decreased its one-year deposit rate rate by 25 basis points to 2.0%.
In late morning European trading gold is up 0.09% or $1,176.38/oz. Silver is up 0.05% at $15.80/oz, while platinum is off 0.94% at $1,067.88/oz.