Gold is trading higher today, recovering from 5-week lows, as concerns over Greece after the Eurozone Emergency Meeting boost haven assets. The meetings failed to reach an agreement and deliver a joint statement on the outcome. Greece presented a 10 point plan to replace the bailout deal but creditors are insisting on the terms of the original agreement. Greece's bailout will expire on February 28^th. Fears that Greece might leave the Eurozone, the "Grexit", support the precious metal, as decisions on the bailout-deal are postponed until next week, February 16^th, were the next meeting is scheduled. Today E.U. leaders will meet at a summit.

A stronger U.S. dollar and the prospect for higher U.S. rates following last week's robust U.S. jobs report weigh on the precious metal as it is dollar-denominated and not yield-bearing.

The precious metal is currently quoted at USD1,223.60, +0,29% a troy ounce. On Thursday the 22nd of January gold reached a five-month high at USD1,307.40.