Greece

640 Host, 640 Host, Jasmine Bowen discusses Greece receiving EU bailout. EAU trading Oil for Gold & Diversification in your Investment Portfolio. Winner of a Silver 1 oz Maple Leaf Coins goes to Grant, for the top question regarding Gold and Silver Precious Metals in your investment portfolio.

Tune in to AM 640 Thursday at 7:05 pm ET to listen to the weekly Gold & Silver Precious Metals Update featuring Cache Metals' Robert Rosenzweig.

Another muted day on the metals market as spot gold traded lower to $1683. Traders and investors awaited the FOMC meeting on interest rates.

Precious metals were in rally mode as growing confidence that a Greek debt swap will be well enough in favour to avoid a credit event.

Spot gold traded to $1704 as the Euro picked itself off the floor to start a rally of its own. The single currency traded to a session high of 1.3278 amid growing confidence on the Greek bond swap.

"Expectations that the take-up will be sufficient to allow the debt swap to proceed without any activation of the collective action clauses expectations have kept the euro buoyant," Standard Bank said.

Spot gold started the session trading to an intra-day low of $1760 as early profit taking and better than expected US pending home sales at 2% against an expected 1.2% and a previous 1.9%.

Spot gold advanced further in the North American session as Greek default fears continued to linger as well as a promise from Chinese officials to support the Eurozone.