 "Gold near $1,700 on Greek debt restructuring")
Singapore: Gold was hovering around $1,700 an ounce on Friday, after gaining nearly 1 percent in the previous session as a strong take-up of Greece’s bond swap offer calmed fears of an imminent default and lifted sentiment across financial markets.
Spot gold was little changed at $1,699.66 an ounce by 0035 GMT, on course for a 0.7 percent fall this week, its second weekly decline in a row. US gold edged up 0.1 percent to $1,700.50.
[caption id=“attachment_238747” align=“alignleft” width=“380” caption=“US gold edged up 0.1 percent to $1,700.50”]  [/caption]
Greece secured an overwhelming acceptance of a bond swap offer to private creditors and beat its own most optimistic forecasts, a senior official said on Thursday after the deadline expired on a deal needed to avoid a chaotic debt default.
Expectation of improved US non-farm payrolls data, due later on Friday, may add to the risk appetite and lift equities and commodities.
A set of data from China, including inflation and industrial output, is also due on Friday. The data is set to show factory output, fixed asset investment and inflation cooling to leave a pro-growth policy bias intact.
The European Central Bank kept interest rates at a record low of 1 percent for a third month running as expected, but delivered a surprise warning on inflation and called on banks and governments to build on its recent blitz of radical support measures to foster a full crisis recovery.
Spot platinum inched down 0.4 percent to $696.97, heading for the biggest one-week loss in nearly three months with a 2.2-percent fall.
US stocks rose on Thursday, recovering most of the week’s losses, after Greece moved closer to a bond swap with private creditors to avoid a messy default.
The euro and commodity currencies held on to overnight gains in Asia on Friday after Greece moved closer to securing fresh funds needed to avoid a messy debt default.
Reuters
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