Gold held a two-day advance as euro-area finance ministers prepare to meet in Brussels amid an impasse over Greece’s financing.
Bullion for immediate delivery traded at $1,230.04 an ounce at 9:04 a.m. in Singapore from $1,229.76 on Feb. 13, according to Bloomberg generic pricing. Prices rose for a second day on Feb. 13, trimming a weekly decline, as weaker U.S. consumer confidence added to concern that the economy is slowing.
Finance Minister Yanis Varoufakis leads a delegation to Brussels on Monday after officials failed to resolve the issue of funding Europe’s most indebted state last week. While Greece wants a six-month bridge arrangement to replace the current bailout and allow time to discuss a new deal, creditors say Alexis Tsipras’s government must abide by agreements struck by previous Greek administrations.