Greek Prime Minister Alexis Tsipras accepted new proposals from creditors including stipulations for a EUR 50 billion sale of Greek assets and acceptance of a high level of domestic economic supervision by bailout monitors. The euro and gold immediately traded lower upon the release of the news. Gold has now traded lower for the third day in a row. Major support for gold seems to appear any time it dips below $1,150 and this is really the key short term area to watch. Coin and bar demand in the US remains strong but figures out of Asia haven’t been all that impressive. Indian demand has been lackluster but this will likely change if gold has a sustained move below $1,150.