Gold Steady Around $1185 on Safe-haven Bids

Gold was trading firmly near $1,185 an ounce on Tuesday, clinging to overnight gains as Greece’s failure to strike a deal with its creditors triggered safe-haven bids.

Spot gold was steady at $1,184.78 an ounce by 0025 GMT, after gaining 0.5 percent on Monday.

Greece and its creditors hardened their stances on Monday after the collapse of talks aimed at preventing a default and possible euro exit, prompting Germany’s EU commissioner to say the time had come to prepare for a “state of emergency”.