Greek leaders meet in Athens on bailout conditions; euro zone uncertainty to underpin gold sentiment
Gold held steady near recent 11-week highs on Wednesday, supported by the euro’s rise to a two-month peak as investors bet that Greece will finally secure a second bailout needed to avoid default.
Greek political leaders are meeting in Athens on Wednesday afternoon to discuss conditions for the country’s second financing package, the Prime Minister’s office said.
They are trying agree a reform deal in return for a new rescue from a chaotic default, after repeated delays which have prompted warnings that the euro can live without Athens.
Spot gold was at $1745,70 an ounce at 1523 GMT, little changed from $1744,90 an ounce late in New York on Tuesday. US gold futures for February delivery were down $3,50 an ounce at $1742,90.
The euro’s rise to a two-month high helped gold to climb.
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VERONICA BROWN
Published: 2012/02/08
