Gold clung to small overnight gains on Tuesday as worries over Greece's future in the euro zone and a decline in global equities supported the safe-haven metal.
Spot gold was little changed at $1,238.59 an ounce by 0022 GMT, after gaining 0.5 percent on Monday. The metal isn't too far from a three-week low of $1,228.25 hit last week.
Bullion got a boost on Monday as stock indexes worldwide slipped on fears over Greece and concerns over conflict in Ukraine.
Wall Street and European shares slumped a day after Greek Prime Minister Alexis Tsipras ruled out extending the country's bailout and said he would reverse some of the reforms imposed by its lenders, raising fears of a Greek exit from the euro zone.
Markets were also eyeing developments in Ukraine. U.S. President Barack Obama signalled on Monday he will wait for the results of high-stakes talks on Ukraine before deciding whether to arm the Kiev government.
Investors tend to bid up gold during times of economic and geopolitical uncertainties.
25 Canada Square, Level 33, office 50, Canary Wharf London, E14 5LQ +44 20 3608 6256
World Financial Markets - 0700 17 600 Varchev Exchange - 0700 115 44
Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.
Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006
The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.
Disclaimer:
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.