LONDON: Gold steadied on Monday, giving up early gains as the prospect of a Greek debt default, was offset by a strengthening dollar and wariness among investors over the metal’s longer-term outlook.

Gold, which often benefits from uncertainty in the wider financial markets, initially rallied to a near one-week high at $1,186.91, but later gave up some of those gains.

Spot gold was up 0.1 per cent at $1,175.86 an ounce at 1354 GMT, while US gold futures for August delivery were up $2.20 an ounce at $1,175.40.

Among other precious metals, silver was up 0.1pc at $15.79 an ounce.

Published in Dawn, June 30th, 2015

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