Gold flat around $1,200 on steady dollar; eyes on Greece, China

London (Apr 20)  Gold was flat around $1,200 an ounce on Monday as the dollar steadied, while traders were assessing risks that Greece's may default and China's new policy measures to shore up the world's second-largest economy.

Spot gold was down 0.1 percent at $1,203.21 an ounce by 0919 GMT, while U.S. gold futures for June delivery were unchanged at $1,202.90 an ounce.

The dollar was up 0.2 percent versus a basket of leading currencies on Monday, having suffered a near 2 percent drop last week as underwhelming U.S. data prompted the market to trim long positions.

U.S. inflation data on Friday that indicated the U.S. Federal Reserve could start raising interest rates this year failed to boost the greenback.

The Fed's policy meeting later this month will be eyed for stronger clues about the timing of a rate hike.

An early rate hike could diminish demand for bullion, a non-interest-paying asset.

Source: CNBC