Gold prices stable amid uncertainty surrounding the negotiations on the reduction of Greece's debt, and on media reports that the International Monetary Fund plans to increase financial resources.

China has reduced purchases of gold before the New Year by the lunar calendar, and traders in India do not make new orders after the increase of import duties of up to 2percent with a solid rate of 300 rupees per 10 grams.

Gold mining company, African Barrick Gold has not fulfilled the plan for mining in the past year because of power outages at the mine Buzwagi.

Cost of the February gold futures on the COMEX is trading today in the range of $1642.1 - $1659.7 per ounce.