Gold prices rose today, Friday, supported by the euro’s rise against the backdrop ofgrowing confidence in the ability of Greece to complete the debt swap to avoid defaults and after signs that the decline in the precious metal this week to the lowest level in sixweeks boosted investment demand.
The euro rose after he dropped the big banks and pension funds, its weight behind theoffer to swap bonds made by Greece to its creditors from the private sector, whichboosted gold.
Gold rose in the spot market during the day 1% to 1701.85 USD/Troy per ounce after it rose 2.3% since the lowest level in a month and a half earlier this week. And golddenominated in euros increased 0.5% to 1287.12 euros an ounce, and silver rose about 2 percent to 34.03 dollars an ounce.
The price of platinum rose 0.9% to 1640.50 USD/Troy an ounce and palladium 1.5% to690.97 dollars an ounce.