SINGAPORE, Feb 5 (Reuters): Gold rose for a second session on Thursday, supported by uncertainty in Greece that has cut investor interest in risky assets and China's efforts to spur its slowing economy.
But bullion was largely trading in a narrow range ahead of Friday's U.S. employment data that may provide more clues on when U.S. interest rates would rise this year, the first hike in nearly a decade.
The European Central Bank said it will no longer accept Greek bonds as collateral for its liquidity operations, dealing a blow to Athens which is seeking debt relief from euro zone lenders. Asian stocks retreated.
"We think the Greek issue will likely stir things up for a little while longer in the markets which is why we think gold should benefit, likely at the expense of equities," INTL FCStone analyst Ed Meir said in a note.
Spot gold was up 0.2 per cent at $1,271.81 an ounce by 0633 GMT, adding to a 0.8 per cent gain on Wednesday.
Gold extends gains
FE Team | Published: February 06, 2015 00:00:00 | Updated: November 30, 2026 06:01:00
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