02082016Mon
Last update: Mon, 08 Feb 2016 01pm

Gold up in Asia

Gold prices firmed above $1,200 an ounce on Tuesday, hitting a near three-week high, as tumbling global equities and concerns over Greece's future in the euro zone prompted investors to seek safety in the metal. There is increasing speculation that Greece might exit the euro zone if a left-wing party - that has vowed to end austerity measures and erase a big portion of its debt - wins the January 25 elections as widely expected.

Spot gold had ticked up 0.5 percent to $1,210.10 an ounce by 0749 GMT, adding to the previous session's 1.3-percent gain. It climbed to $1,211.70 earlier, the highest since December 18. "There is a bit of talk about safe-haven buying given the spike in uncertainty regarding the future of the euro zone," said MKS Capital trader James Gardiner.

Copyright Reuters, 2015