Gold futures, which typically perform the inverse of the U.S. dollar's travails, are projected to fall further below the $1,500 per troy ounce barrier on Monday as the dollar resumes its gradual climb in value.
Bloomberg reports that Greece, who received a bailout of its debt-hobbled financial systems in June 2010, is slated to solicit additional bailout money on Monday from the International Monetary Fund and European leaders.
"The main reason for prices falling is the uncertainty about the financial bailout for Greece, which is putting pressure on the euro," states a Monday report by Commerzbank AG analyst Eugen Weinberg.
At 8:29 a.m. on Monday, gold futures increased 0.10 percent, a $1.50 rise to $1,495.10 per troy ounce.
During the past 30-plus days, the greenback has climbed in price by 0.3 percent as compared to six counterpart currencies.
"There is still a lot to fret about here for an average investor who remains tense over debt troubles in the monetary union and will think twice about getting out of those gold longs in the near term," states a Monday report from VTB Capital analyst Andrey Kryuchenkov.
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