Gold was steady but failed to rebound on Wednesday after falling more than 1 percent in the previous session as Greece’s plan to end a standoff with creditors lifted the appetite for risky assets such as equities.
Spot gold was little changed at $1,260.86 an ounce by 0018 GMT, after falling 1.2 per cent on Tuesday. That marked gold’s fourth drop in five sessions. The US gold for April delivery was also nearly flat at $1,261.50 an ounce.
The world’s largest gold-backed exchange-traded fund, SPDR Gold Trust, said its holdings slipped to 24.59 million ounces on Tuesday from 24.65 million ounces the day before, which was the highest level since October
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