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Precious Metals Remain in Decline

February 23, 2015 at 10:39 by Vladimir Vyun

Gold remained in decline during the early Monday’s trading session following the Greek debt extension. Other precious metals were also down. The market sentiment stays mildly optimistic as chances of Greece’s exit from the eurozone diminished.

Truth be told, there are many doubts that Greece will be able to resolve its problems in four months that were given by the loan extension agreement. On top of that, the German business climate index remained almost unchanged in February while economists have hoped for an increase. Yet all these factors did not result in demand for precious metals as a low risk investment option.

April futures for delivery of gold dipped 0.95 percent to $1,193.40 per troy ounce as of 10:22 GMT on COMEX today. May contract for silver was down 0.92 percent to $16.17 per ounce. Spot price for platinum declined 0.54 percent to $1,158.63 per ounce, and palladium lost 0.57 percent to $775.75 per ounce.

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