Daily Gold Update

Source: Bill Musgrave, American Gold Exchange

Austin— With U.S. markets closed for the Fourth of July holiday, gold gained 0.4% in London trade to close near $1,168 on safe-haven bids as traders prepared for Sunday's Greek referendum.

Gamesmanship continued in an unofficial dialog between Greece and its troika of creditors, with the Greek finance minister now proclaiming (without verification) that a deal is nearly done. Both sides are trying to sway Greek voters, with Tsipras government portraying a "no" vote as a blow for democracy while EU officials claim it would result in financial chaos.

Gold received carry-through support after the June U.S. nonfarm payrolls report printed weaker than expected, clouding the outlook for a widely-anticipation September increase in interest rates by the Fed. Most analysts now expect the first hike to be deferred until December or early 2016.

The other metals were mostly higher in London trade, with silver and platinum picking up 0.1% and 0.5%, respectively, while palladium finished virtually flat.