Summary Box: Gold, silver fall on Greek news

AP News
Posted: Jun 27, 2011 5:35 PM
Summary Box: Gold, silver fall on Greek news

METALS DOWN: Gold and silver prices fell Monday after investors gained the confidence to shift their money back into the stock market.

SAFE HAVENS: Gold and silver prices had been boosted by investors who want to park their money in relatively safe, hard assets. Precious metals become more valuable when markets worry about inflation, political turmoil or bad economic news.

GREEK DEAL: The stock market jumped, and metals fell, Monday on news that a Greek debt crisis might be averted. French banks agreed to accept slower repayment of Greece's debt. That would give Greece more time to meet its more immediate financial obligations.