Gold swings between gains and losses as deal reached for Greek
Gold
on Tuesday swung between gains and losses as a pact on Greece's debt
burden weakened the dollar and physical demand from India, last year's
biggest buyer, remained slack, reported PTI.
Gold added 77 cents to USD 1,749.42 an ounce.
The US Dollar Index, a measure against six major trading partners, fell to near a three-week low after euro-area finance chiefs and the International Monetary Fund agreed to cut Greece's interest rates and gave it more time to pay back rescue loans, the PTI report said.
The gauge pared some losses after Federal Reserve Bank of Dallas President Richard W. Fisher said accommodative policies can't be left in place forever.
Holdings in gold-backed exchange-traded products rose 0.7 tonnes to a record 2,607 tonnes. The US Mint sold 75,500 ounces of American Eagle gold coins so far this month, the most since January.
Ministers from the 17-nation euro bloc started their meeting in Brussels on Monday, less than a week after an all- night gathering failed to yield agreement and days after an EU summit broke up without a proposed seven-year budget.
Gold added 77 cents to USD 1,749.42 an ounce.
The US Dollar Index, a measure against six major trading partners, fell to near a three-week low after euro-area finance chiefs and the International Monetary Fund agreed to cut Greece's interest rates and gave it more time to pay back rescue loans, the PTI report said.
The gauge pared some losses after Federal Reserve Bank of Dallas President Richard W. Fisher said accommodative policies can't be left in place forever.
Holdings in gold-backed exchange-traded products rose 0.7 tonnes to a record 2,607 tonnes. The US Mint sold 75,500 ounces of American Eagle gold coins so far this month, the most since January.
Ministers from the 17-nation euro bloc started their meeting in Brussels on Monday, less than a week after an all- night gathering failed to yield agreement and days after an EU summit broke up without a proposed seven-year budget.
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