Gold slips as greek optimism grows

Gold slipped this week, as optimism surrounding the possible Greek negotiations grew.

The precious metal has strugged against both improving sentiment surrounding the Greek bailout talks and the strengthening US economy - and climbing dollar - encouraging investors to consider other, more traditional assets.

"Gold continues to struggle with multiple headwinds," Saxo Bank head of commodity research Ole Hansen told Reuters on Wednesday. "But we have nevertheless managed to find some support towards $1,170. We can probably expect the range bound nature will continue for now."