Gold Steady Around $1170

Gold turned higher on Monday as France and Germany told Greece the door was open to negotiations after Greek voters had rejected the terms of a bailout package.

Spot gold was up 0.2 percent at $1,169.25 an ounce, while U.S. gold futures settled up $9.70, or 0.8 percent, at $1,173.20 an ounce.

Leaders of France and Germany told Greece’s government the door for negotiations with creditors remained open but urged it to make credible proposals at a euro zone summit to reach a cash-for-reform deal and so avoid a euro zone exit.