Gold prices climbed today as traders bought the yellow metal to protect wealth amid economic uncertainty in Europe.
Fears that Greece may default on its debt intensified after it was reported this weekend that the EU has ditched a French-backed plan to goad private creditors into rolling over their Greek bonds.
The plan was designed to relieve concerns over the possibility of an immediate default by Greece and give the country more time to address its fiscal problems.
Top euro zone officials are meeting in Brussels today for emergency talks in hopes to work out a new bailout deal that will keep the debt-laden Greece solvent.
Gains in the price of gold were curbed by a stronger US dollar, which rallied against the euro on the back of the worries over the debt situation in Europe.
The US dollar has an inverse relationship with gold, which is seen as an alternative asset to the American currency.
Gold prices stood at US$1,547/oz this afternoon.
Silver and platinum were in decline, falling to US$35.95/oz and US$1,727/oz respectively by midday.
Randgold Resources (LON:RRS) climbed 1 percent in afternoon trade, while Lonmin (LON:LMI) slipped 1.8 percent.
In the FTSE 250, Aquarius Platinum (LON:AQP) slid 3 percent and Hochschild Mining (LON:HOC) dipped 2 percent.
ECR Minerals (LON:ECR) led the small caps, climbing 30 percent in afternoon trade.
Minera IRL (LON:MIRL) followed, rising 9.5 percent.