(RTTNews) - The price of gold was steady Wednesday morning as traders hoped that Greece would eventually secure a second bailout package.
Gold for April delivery, the most actively traded contract, were flat at $1,748.50 an ounce. Yesterday, gold ended higher following news reports of progress in the Greek austerity measures with a final document taking shape.
Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,277.13 tons.
This morning, the U.S. dollar slipped back near a 2-month low versus the euro and a 3-month low against sterling. The buck was moving higher versus the yen and trading flat against the Swiss franc.
In economic news, Germany's trade surplus decreased more than expected by economists in December as exports dropped, data from the Federal Statistical Office showed. The trade surplus declined to EUR 12.9 billion in December from EUR 15.9 in November. Economists had forecast a decline to EUR 13.7 billion.
Elsewhere, the price of silver moved higher, while platinum was ticking lower in morning deals.
