Precious Metals Market Report: Gold Falls 0.9% On Greek Debt Proposal

The following is an article excerpt from Coinweek

Gold fell 0.9% to close under $1,266 after Greece proposed a compromise with its creditors, easing tensions in the Eurozone, boosting risk appetite, and reducing demand for safe havens.

Greece's new leaders dropped demands to write-down foreign debt, offering instead to swap it for growth-linked bonds. The compromise reduced worries that Greece will renege on the terms of its bailout and possibly exit the euro, destabilizing the entire region.

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