Gold Eases to $1200 as Dollar Firms

Gold gave up some of its overnight gains on Wednesday as the U.S. dollar firmed after earlier losses, with investors keeping their attention focused on the Greek debt crisis and its impact on the currency markets.  Spot gold eased 0.1 percent to $1,200.55 an ounce by 0033 GMT, after gaining 0.5 percent on Tuesday.

The dollar was mixed against major currencies on Tuesday, with the euro pivoting to modest gains against the greenback after euro zone finance ministers moved away from fixing a deadline for Greece to come up with fiscal reforms.

Greece, which is quickly running out of cash, pledged to its euro zone partners in February that by the end of April it would agree with creditors on a comprehensive list of reforms to get 7.2 billion euros remaining from its bailout.

CNBC

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