Bullion metals ended lower at Comex on Tuesday, 27 November 2012. Gold prices ended lower for second straight day as the dollar headed up and a sort of debt deal was reached at Greece. Upbeat US data also took some shine away.
Gold for December delivery fell $7.3 (0.4%) to settle at $1,742.3 an ounce on the Comex division of the New York Mercantile Exchange on Tuesday.
On Tuesday, December silver fell 16 cents, or 0.5%, to settle at $33.98 an ounce.
In overnight trading, the European stock markets rallied only modestly on news that Euro zone leaders meeting in Brussels agreed late Monday to disburse fresh bailout funds to cash-starved Greece. Most market watchers had reckoned EU leaders would grant new monies to Greece. The world market place showed no significant reaction to the as-expected news on Greece.
A meeting to discuss Greece's finances wrapped up early Tuesday with Greece's institutional lenders reaching a deal to pave the way for Athens to receive almost 44 billion euros (almost $57 billion) of financial aid, while bringing its debt down to a sustainable level. The deal is expected to trigger another aid payment for the debt-struck country.
A heavy slate of U.S. economic data released Tuesday did show generally better-than-expected readings overall, and that put modest upside pressure on the U.S. dollar index, which in turn helped push gold and silver prices to their daily lows.
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