The Greek crisis has led to an increase in demand for gold

Earlier this week, gold prices rose sharply and reached the mark - $1187.60 per ounce. This is the maximum level of the past 4 sessions. As noted by analysts of Fort Financial Services, the debt problems of Greece affecting the economies of neighboring countries in general and in particular the Euro-currency, spurred investors to purchase this precious metal.
With no less activity were bought golden coins by European investors. In this way the demand for “British Sovereign” grew five times in comparison to the average price over the past six months. This was pointed out by the Mint of Britain in their report to the press.
The Irish company GoldCore Ltd which regularly buys and sells investment gold, also noted a surge in demand for the precious metal earlier this week. Thus, the sale of gold coins in Ireland and the UK has tripled in comparison with the last quarter.
Despite the fact that the "Greek" question showed support for gold, general price trends in the market were fairly quiet. This means that there are still concerns about interest rates in the US which are expected to increase. Based on this the quotes of the precious metal declined on the bidding on Tuesday.
According to the analysts of FortFS the main focus must be on the report of the labor market in the US. Its publishing is planned for Thursday. On the weekend the head of the New York’s FBI said that the overall statistics in the country are positive and in September a rate hike is expected. It was added that such a positive report may worsen the trend of gold prices. You may find the market review on the official website.