Daily Gold Update

Source: Bill Musgrave, American Gold Exchange

Austin— Gold rose 0.2% to close at $1,166.50 as renewed concerns about Greece's solvency boosted safe-haven demand.

EU finance ministers, meeting today in Brussels, urged Greece to speed up the reforms required to qualify for its next tranche of bailout aid. As part of the recent agreement with its so-called troika of creditors�the ECB, EU and IMF�Greece must enact fiscal reforms to extend its bailout for four months. In the meantime, the nation's finance remain precarious and default on current obligations still may occur.

European stocks fell and U.S. Treasury prices rose alongside gold on flights to safety and the dollar rolled back. A falling dollar supports higher prices for gold and other commodities denominated in it of international trade.

The other precious metal were mixed, with palladium gaining 0.6% while silver and platinum slid 0.2% and 0.9%, respectively.

At the Comex close: April gold rose $2.20 to $1,166.50; May silver slid 3 cents to $15.77; April platinum lost $10.20 to $1,148.60; and June palladium added $4.80, to $822.95 an ounce.