Gold little changed as investors eyed talks over Greek debt

• Spot gold was steady at $1,208.09 an ounce by 0043 GMT, after dropping 0.5 percent in the previous session. The metal has lost 1.7 percent for the week. 
• Germany rejected a Greek proposal for a six-month extension to its euro zone loan agreement on Thursday, saying it was "not a substantial solution" because it did not commit Athens to stick to the conditions of its international bailout.
• Berlin's stance set the scene for tough talks at a crucial meeting of euro zone finance ministers on Friday. 
• Greece's leftist-led government is scrabbling to avoid running out of money within weeks and will face pressure to make further concessions in Brussels. 
• As the biggest creditor and EU paymaster, Germany has the clout to block a deal and cast Greece adrift without a lifeline, potentially pushing it towards the euro zone exit. 
• But some officials in other capitals saw the German response as tactical and forecast agreement by the weekend. 
• Bullion had initially seen some safe-haven bids as the uncertainty over the crisis dragged on, but the expectation of a last-minute deal has hurt gold.

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