Gold Steady Below $1190 on Steadier Dollar

Gold was little changed on Thursday as the impact of a steadier dollar was counteracted by lower European equities alongside fading optimism over a potential deal between Greece and its creditors.

Spot gold was flat on the day at $1,187.46 an ounce by 1140 GMT, within reach of a two-week low of $1,183.76 hit in the previous session. U.S. gold futures for June delivery rose $1.30 to $1,186.80 an ounce.

“There is some support from the Greek situation, but we don’t expect any major price rises for the time being,” Commerzbank analyst Daniel Briesemann said. He added that gold is likely to remain stuck around the $1,200 level while uncertainty persists over Greece and U.S. interest rates.