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Gold remains flat after Greek vote
Last Updated(Beijing Time):2012-02-14 06:10

Gold futures on the COMEX Division of the New York Mercantile Exchange ended a tad lower Monday, as investors remained cautious after the new round of Greek austerity measures was ratified by the parliament on Sunday.

The most active gold contract for April delivery dropped 0.4 dollars, or 0.02 percent, to 1,724.9 dollars per ounce.

Greek parliament approved the austerity package on Sunday, clearing the way for the debt-burdened nation to get the money it desperately needed from the International Monetary Fund and the European Union to pay its debt before the due date in March.

The precious metal jumped during overnight trading, as euro advanced against the greenback, amid investor relief after the Greek government early in the morning approved unpopular austerity measures.

But gold prices started to pare earlier gains during mid- session, as euro lost some ground against U.S. dollar, as concerns about hurdles in the country's bid to avoid a disorderly default limited gains.

Meanwhile, gold also came under pressure from technical-selling, after it failed to rise above the previous session's high above 1, 730 dollars an ounce.

Silver for March delivery rallied 11.8 cents, or 0.4 percent, to 33.722 dollars per ounce. Platinum for April delivery trimmed 10.1 dollars, or 0.6 percent, to 1,649.7 dollars per ounce.

Source:Xinhua 
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