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by Stockwatch Business Reporter
New York spot gold closed up $5.90 to $1,180.10 Monday. Greece has failed to come up with its $1.6-billion in interest payments and it has shut its banks for the next six working days. ATM withdrawals are being limited to 60 euros a day to prevent bank runs, and tourists should bring extra euros. Here in Canada, the TSX Venture Exchange dropped 12.29 points to 667.09 and the TSX Gold Index slipped a fraction to 151.02.
Gold miners in Canada ended mostly down. Goldcorp Inc. (G) slipped four cents to $20.28, Detour Gold Corp. (DGC) lost four cents to $14.36 and Iamgold Corp. (IMG) lost 10 cents to $2.58. Eldorado Gold Corp. (ELD) rose seven cents to $5.01. The miner said the bank closures will not affect its work in Greece, where the company will continue paying its 2,000 local workers with wire transfers. Eldorado did not say whether its employees will have difficulty accessing their pay.
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