Spot gold edged lower on Thursday as the dollar rebounded versus the euro and investors assessed the latest standoff over Greece’s bailout.
Spot gold, stronger initially, fell 0.5 percent to $1,206 an ounce, erasing gains made after minutes from the U.S. Federal Reserve showed it was still hesitant about raising interest rates. U.S. gold futures for April delivery gained $7.40 an ounce to settle at $1,207.60.
Spot prices had fallen to a six-week low of $1,197.56 on Wednesday, when investors saw greater potential for a successful resolution to Greece’s debt talk. Prices bounced back after minutes from January’s Federal Reserve policy meeting showed concern about raising interest rates too soon.
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