IF THIS IS TRUE About Greece, Gold Could Find Support

In this very dynamic environment critical issues are influencing security values minute to minute. An important development around Greece, if it plays out, sets the floor for gold here temporarily. Recently, I warned gold should decline and the SPDR Gold Trust (NYSE: GLD) should drop toward $113 or lower, however this news that Greece could get a reprieve from the IMF for its June 5 payment sets the floor here for gold just above that level. I had suggested long-term investors hold gold through the storm, so you'll be glad to hear I think this latest storm perhaps just blew over. However, look for this issue to set up against gold again starting perhaps this week or sometime around mid-June if reports of a pending agreement between Greece and the Eurogroup prove faulty. See the report on gold and Greece. SPDR Gold Trust (NYSE: GLD), Market Vectors Gold Miners (NYSE: GDX), iShares Silver Trust (NYSE: SLV), Direxion Daily Gold Bull 3X (NYSE: NUGT), Direxion Daily Gold Bear 3X (NYSE: DUST), Barrick Gold (NYSE: ABX).

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