Gold holds below $1,200 due to firmer dollar, equities

Gold remained below the key $1,200 level on Tuesday, adding to overnight losses, as a rally in global equities and a firmer dollar dented the metal's appeal as a safe haven. Spot gold was down 0.2 percent to $1,194 an ounce at 0657 GMT after losing 0.7 percent on Monday. "Precious markets declined, as market participants pared back safe-haven exposure in gold," said ANZ analyst Victor Thianpiriya. Athens is in negotiations with its eurozone partners and the International Monetary Fund over reforms required to unlock remaining bailout funds.

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