Gold price traded higher on the uncertainty over the Greek debt talks and on a weaker U.S. dollar. The Greek government has submitted a new reform plan to the European Union (EU) and International Monetary Fund (IMF) on Tuesday. According to European officials, the new proposal was insufficient.

Greek Prime Minister Alexis Tsipras will meet German Chancellor Angela Merkel and French President François Hollande later in the day.

Gains were limited due to higher yields of the European governments bonds. German government bonds hit the 1% barrier due to a selloff in bonds markets. It was the highest levels since September 2014.

Speculation on that the Fed may start to hike its interest rate in September also weighed on gold price.

June futures for gold on the COMEX today rose to 1190.10 dollars per ounce.