Gold is modestly higher, buoyed by another retreat in the dollar. More dovish FedSpeak was heard today, more soft U.S. data came out and the Greek saga drags on.
The Greek government apparently submitted their best offer to creditors this morning. Meanwhile, the creditors submitted a take-it-or-leave-it offer to the Greek government. My guess is that the two sides are still miles apart, with each offer containing non-starter items for the other side. The default risk should help keep gold underpinned.
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