Gold prices were mired in listless trade ahead of a Greek emergency meeting involving several European leaders.
Spot gold was last at $1,202.40/$1,203.20, up $1.40 ahead of Friday’s close. Trade in mired in malaise between $1,198.0 and $1,204.0. Silver was unchanged at $16.16/$16.22.
In Europe, leaders from 19 countries are set to hold an emergency meeting in a last-ditch effort reach a resolution to the Greek debt crisis. The Mediterranean country has 12 days to repay a 1.6-billion-euro loan from the IMF.
“We suspect that trading conditions will lighten up over the course of today’s session as participants move to the sidelines ahead of Greek uncertainties, as the possibility of capital controls being imposed on the country is not out of the question, come Monday,” Edward Meir, analyst at INTL FCStone, said.
IMF Managing Director Christine Lagarde said ongoing talks need “adults in the room”, while Greek Prime Minister Alexis Tsipras shows no sign of relenting on pensions reform – a critical discussion point from debt holders.
In eurozone data, the current account in April was 22.3 billion euros, above forecasts of 18.1 billion euros, while Germany’s PPI in May was unchanged but missing estimates of a 0.2-percent increase.
Platinum was last up $8.00 to $1,083.0/$1,088.0, while palladium was last down $9.00 at $705.0/$710.0.
(Editing by Tom Jennemann)
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