Gold futures on the COMEX Division of the New York Mercantile Exchange further hiked on Thursday, as market was concerned that the sovereign debt problem in Greece may worsen, which sparked increasing safe-haven demands.
The most active gold contract for August delivery rose 3.7 U.S. dollars, or 0.24 percent, to 1,529.9 dollars per ounce.
Market analysts said that the debt crisis in Greece has escalated into a political crisis and Greek insolvency is becoming increasingly likely, which has intensified market fears and prompted investors to buy gold as a safe-haven investment.
On Thursday, Greek Prime Minister George Papandreou sought an agreement with opposition parties to push through austerity measures, which caused a general strike and violent confrontations between police and protesters.
As a result, European stock markets tumbled, and the euro further dropped against the U.S. dollar, which, however, weighed on the metal market to some extent, as a stronger dollar usually reduced the appeal of gold for international investors.
Silver for July delivery rose 14.9 U.S. cents, or 0.42 percent, to 35.559 dollars per ounce. Platinum for July delivery further shed 13.5 dollars, or 0.76 percent, to 1,760.7 dollars per ounce.
