Gold clung to small overnight gains on Tuesday as worries over Greece’s future in the euro zone and a decline in global equities supported the safe-haven metal.
Spot gold was little changed at $1,238.59 an ounce by 0022 GMT, after gaining 0.5 per cent on Monday. The metal isn’t too far from a three-week low of $1,228.25 hit last week.
Bullion got a boost on Monday as stock indices worldwide slipped on fears over Greece and concerns over conflict in Ukraine.
Wall Street and European shares slumped a day after Greek Prime Minister Alexis Tsipras ruled out extending the country’s bailout and said he would reverse some of the reforms imposed by its lenders, raising fears of a Greek exit from the euro zone.
Canadian gold miner Tahoe Resources Inc said on Monday it has agreed to acquire smaller rival Rio Alto Mining in a cash-and-share deal valued at C$1.4 billion ($1.12 billion), in a bid to expand its presence in Latin America.
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