Gold futures on the COMEX Division of the New York Mercantile Exchange retreated on Friday, as market sentiment was dented by delays on Greece's second bailout, sending investors to safe-haven currencies like the U.S. dollar.

The most active gold contract for April delivery dropped 15.9 dollars, or 0.9 percent, to 1,725.3 dollars per ounce.

Dollar regained some ground on Friday, amid rising concerns over the Greek deal as European Union finance ministers demand more commitments from Greece.

Eurozone finance ministers said Greece had to save an extra 430 million dollars in order to be granted bailout funds, raising concerns about the risk of a chaotic default and pushing market sentiment from recent optimism to pessimism.

A stronger dollar added to gold's woes, as it makes dollar- denominated gold more expensive to holders of other currencies.

Meanwhile, the precious metal also came under pressure, as China's import shrank in January partially due to the holiday- related distortions, which raised concerns over the country's demand.

Silver for March delivery dropped 31.3 cents, or 0.9 percent, to 33.604 dollars per ounce. Platinum for April delivery trimmed 7. 8 dollars, or 0.5 percent, to 1,659.8 dollars per ounce.