The price of gold during today's trading declined against the backdrop of incoming news from China and Greece.
February futures price for the yellow precious metal in the New York Stock Exchange on dropped by 0.18% to reach 1.274.60 USD per ounce, while the cost of March contracts on silver fell by 0.27% to 17.21 USD per ounce.
Players in the gold market turned their attention to the news that Greek Finance Minister Yanis Varoufakis in an interview with The Financial Times reported that the authorities offer not to write off debt of the government, and to exchange bonds for new ones.
With the release of two types of new bonds will be reduced debt load. The first kind of plan associated with the development of national economy and payments on them will depend on the dynamics of GDP growth, and the second type of securities will not have the maturity date.
In addition, China in October 2015 plan to establish the price of gold on the open market, and it will also affect the reduction of gold cost.
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