Firm US dollar weighs on precious metal prices

In view of the very strong US dollar, however which has meanwhile appreciated by nearly 2% against the euro, the losses have actually been fairly moderate. 

The firm US dollar also meant that gold in euro terms increased to just shy of €1,060 per troy ounce, though it has been unable to hold onto these gains this morning. 

This evening Eurogroup finance ministers attend a special summit aimed at finally reaching an agreement in the debt dispute with Greece. Although this appears possible in light of the latest proposals made by the Greek government, it is questionable whether a long-term solution can be found. The uncertainty is likely to continue for the time being.