LONDON: Gold fell on Monday as a robust dollar outweighed the impact of lower equity markets and some retail demand after Greek voters rejected the terms of a bailout package, potentially setting Athens on a path out of the euro.

Spot gold was down 0.2 per cent at $1,165.70 an ounce by 1343 GMT, while US gold futures were unchanged at $1,165.20 an ounce.

The metal, typically seen as an alternative investment in times of financial and economic uncertainties, rallied during Asian hours, reaching a near one-week high of $1,174.70, but failed to hold onto gains, as the dollar gained versus the euro.

Platinum was the weakest performer among precious metals, with a 3.1pc fall to its lowest since March 2009 at $1,046.75 an ounce.

Silver fell 0.6pc at $15.56 an ounce and palladium fell 1.8pc to $667.50 an ounce, close to a two-year low hit last week.—Reuters

Published in Dawn, July 7th, 2015

On a mobile phone? Get the Dawn Mobile App: Apple Store | Google Play