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Gold is expensive because of the possible mitigation requirements of the euro area to Greece after the Financial Times Deutschland reported on possible mitigation requirements of the European leaders to Athens after the elections in the Greek parliament on June 17.
Earlier it was reported that eurozone countries are ready for negotiations with Greece on the waivers in the fiscal program, which takes place in exchange for the EU and IMF loans, the newspaper Financial Times Deutschland. Greece gets the credit support, which will exceed the sum of 240 billion euros, and this spring has been restructured Greek debt to private creditors. The program cost reductions, liberalization and privatization law does not fit in on time.
The June gold futures on the COMEX today rose to 1622.4 dollars per ounce.
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