Gold May Decline in New York on Greece Debt Resolution Outlook
This article is for subscribers only.
Gold may decline for a second day in New York as speculation that Greece’s debt crisis is closer to being resolved curbs demand for the metal as a protection of wealth.
Greece’s next aid package may include incentives for bondholders to roll over maturing debt without triggering a credit-rating downgrade that would roil Europe’s banking system, two people with knowledge of the talks said. The dollar was little changed against six major currencies after dropping to a three-week low. Bullion typically moves inversely to the greenback.