Gold prices dip with focus on Greece, euro, Fed minutes

Investing.com - Investing.com - Gold prices eased mildly in Asia on Wednesday as investors continued to eye Greece in the euro zone and await upcoming Federal Reserve minutes for hints on the timing of an interest rate hike widely expected this year.On the Comex division of the New York Mercantile Exchange, gold futures for February delivery fell 0.11% to $1,217.30 on Wednesday in early Asia.Overnight, gold futures were up for the third consecutive session on Tuesday, as safe-haven demand was boosted amid growing fears that Greece might exit the euro zone.Also on the Comex, silver futures for March delivery declined 0.22%, to trade at $16.513 a troy ounce.Appetite for safe-haven assets remained supported amid uncertainty over Greece's future in the euro zone if left-wing anti-austerity party Syriza win elections due to be held later this month.Investors will be turning their attention to Friday's U.S. nonfarm payrolls report for further indications on the strength of the recovery in the labor market. Wednesday's Federal Reserve meeting minutes will be also closely watched.Gold lost nearly 2% in 2014 amid indications a strengthening U.S. economic recovery will force the Fed to start raising interest rates sooner and faster than previously thought.Expectations of higher borrowing rates going forward is considered bearish for gold, as the precious metal struggles to compete with yield-bearing assets when rates are on the rise.Elsewhere in metals trading, copper for March delivery dipped 0.07% to trade at $2.762 a pound.