Commerzbank: If Greece voted against the reforms, the gold will go up.

Once the labor market in the US fell below expected levels, give rise to weakening of the USD. This supported the price of the gold. The market first dropped close to 3.5 monthly minimum around 1157, and then the goal lossesher.
 
Currently the majority of market apparently expected that the process of interest rate hikes in the US will be delayed more. The silver followed gold, but showed disproportionate growth and added 1% to USD 15,7/oz. However, according to the analysis of Commerzbank, gold and silver risking a decline in several months of market corridors. Participants carefully wait the results of the referendum in Greece. Studies so far have shown equal probability for "yes" and "no." What will happened over the weekend, today may provide only divinerс. Result "no", rather will cause growth of gold on Monday.

Analysis registers changes in demand. Mint in the United States in June sold gold coins with a total volume of 76 000 oz. AROs are the most significant sales from January this year that are 57% higher than in June 2014. The picture in silver is almost the same. Sales of silver (4.84 million ounces) showed growth compared to last year by 80%. In Australia, the Perth Mint also reported a strong increase in demand in June, especially gold coins.

Reverse is behavior of ETF-funds in gold. In June they account outflow of investments (minus 9.8 tonnes) and sales of 2.6 tons so far in July. It is certainly offset the growth in demand and continued pressure on the equilibrium price of gold. Supporting does not receive and silver, despite the fact that in the last month coupled with this metal ETF-funds increased their exposure to 223 tons.