Gold
slipped on Tuesday as the dollar firmed ahead of the U.S. Federal
Reserve policy meeting, while a looming Greek crisis failed to trigger
sustained demand for safe-haven assets.
Spot
gold fell 0.7 percent to $1,178.06 an ounce by 1419 GMT, while U.S.
gold futures for August delivery were down $8.20 an ounce at $1,177.60.
Bullion
has not made much headway in recent months because of uncertainty over
the timing of a rate rise, which would reduce demand for the
non-interest-paying asset.
U.S.
data on Tuesday showed a fall in housing starts in May, but a surge in
permits for future construction to the highest level in nearly eight
years suggests the pullback will be temporary.
European
equities fell on the concerns about Greece, with Athens and its
creditors hardening their stances after the latest breakdown in talks.
There
were continued outflows for exchange-traded bullion funds, with assets
at top fund SPDR Gold Trust falling 0.3 percent to 701.9 tonnes on
Monday, the lowest since 2008.
In other metals, silver was down 1.1 percent at $15.90 an ounce, while palladium lost 0.1 percent to $734.25.
Platinum
fell 0.9 percent to $1,076.75, within sight of a six-year low of
$1,072.50 hit on Monday on a combination of weaker equities and lower
gold prices, analysts said. ($1 = 0.8891 euros)
Source: Reuters
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