Gold Eases towards $1180 on Greek Optimism

Gold tumbled on Wednesday as shares rose after U.S. data showed its private sector added more jobs than expected in May, and prospects increased of a debt deal for Greece.

Spot gold slipped 1 percent to $1,181 an ounce, while U.S. gold futures for August delivery settled down $9.50, at $1,184.90 an ounce, its lowest since May 11.

U.S. private employers added 201,000 jobs last month, higher than the 165,000 additions in April and economists’ estimate of a gain of 200,000 for May.