Gold is currently at $1,160.60 (+0.12%) an ounce. The metal slightly climbed from a four-month low amid a stronger euro; however it's still headed for a week of declines. The euro rose against the dollar on news about new proposals by Greece's government to its creditors. A stronger euro made this dollar-denominated precious metal cheaper.

Bullion has also received some support from IMF's global growth forecast revision. The fund cut its forecast for this year to 3.3% from 3.5% based on recent weakness in the U.S. economy.

Physical demand in key consumers (China and India) remained weak.