FXstreet.com (Córdoba) - Gold is edging lower after wavering between small gains and losses on Monday, torn between demand for its safe-haven condition amid concerns over Greek debt crisis and broad-based selling of commodities. The precious metal managed to bounce off a 6-week low hit earlier at $1490.95 an ounce, though it couldn't rise above below $1500/oz and pulled back. At time of writing, gold bullion is at $1495/oz, 0.40% below its opening price. Gold is declining for third consecutive day on Monday. "The downtrend may be expected to continue from current levels, which will be followed by reaching support level 1486, said Anton Kolganov, analyst at ForexMillion. "An uptrend will start as soon as the pair rises above resistance level 1500, which will be followed by moving up to resistance level 1515". Silver touched the lowest price in 6 weeks at $33.52, and despite attempting a bounce, it remains pressured, currently at $33.80 an ounce, 1.5% lower on the day.

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