Gold gained for a third day, the longest run of advances in almost six weeks, as euro-area finance ministers meet amid an impasse over Greece™s financing.
Talks between Greece and the rest of the euro area ended in acrimony on Monday as officials in Athens lashed out at demands that they stick to the previous government™s austerity program to retain financial support. Bullion climbed more than 3 percent this year party as Greek woes renewed demand for haven assets.
Bullion for immediate delivery rose 0.2 percent to settle at $1,232.55 an ounce by 5 p.m. in New York, according to Bloomberg generic pricing.
Gold rose this year after posting two years of losses. Proettel said traders will probably focus this week on the outlook for U.S. interest rates, with the Federal Reserve set to release minutes of its January meeting on Feb. 18.
Holdings in exchange-traded products fell for a fourth day as of Feb. 13, declining 3.2 metric tons to 1,670.7 tons, data compiled by Bloomberg show. That capped the first weekly drop in a month after assets reached a four-month high on Feb. 9.