Gold is cheaper on the back of weak euro to two-month low against the dollar and uncertainty about the provision of a new portion of Greek loans.

While players and hope that Greece will stretch this week with no credit, for which it had hoped, uncertainty about the short-term financing and reduce the country's debt scare investors away from the euro.

Greece plans Tuesday to sell treasury bills to refinance Five Billion Euro-issue maturing on Friday, and some players do not believe in the success of the auction.

Euro zone finance ministers agreed to give Athens two years to achieve the goal of the budget, but the eurozone and the IMF can not agree who will bear the associated costs in the order of 33 billion euros.

A new meeting of Eurogroup held on November 20, said its president, Jean-Claude Juncker, and on 22 November the EU summit opens.

In 2013, prices will rise to $ 2,000, because the cost of production limits its growth, and demand from central banks and Chinese consumers increases, the general director of the world's largest gold producer Barrick Gold Jamie Sokalski.

He also noted the increase in investment demand for gold due to economic uncertainty and new investment vehicles in Asia.

Price increase helps the threat of financial problems in the U.S. that could push the world's largest economy into recession.

December futures price of gold on COMEX today fell to 1717.60 dollars per ounce.