Spot gold dropped $30 to $1,538/oz during Wednesday morning trading due to worries about Greece exiting the euro.
European leaders, who are at a summit in Brussels today, are striking pessimistic notes about the region and the economic crisis.
The S&P/TSX Composite Index is off 1.27% to 11,306.79 and theS&P/TSX Venture Composite Index is down 1.11% to 1.232.94.
Gold’s low point for the month was May 16 when spot gold hit $1,534.70 /oz.
European leaders are unable to come to a consensus with Germany favouring austerity measures and France favouring growth oriented policies. Greece also looks like it is doing a slow walk to exiting the euro since it is balking at fiscal measures imposed by the rest of the EU members.
