Precious metals ended the week lower amid Greek debt talks

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Source: Dukascopy Bank
Precious metals, excluding platinum, declined on Friday amid lack of clear decision over the Greek bailout. Precious metals were broadly tracking the movement of the Euro against the US Dollar. At the same time, upbeat US economic data put the investors off precious metals that traditionally are considered as safe haven. The yellow metal found additional support in the increased ETF gold holdings and improved gold demand from the China's central bank. However, gold is expected to continue waving near the pair EUR/USD, trading in the narrow range above 1,700 US Dollars per ounce. Other precious metals are likely to track gold and base metals' fluctuations.

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