Gold prices rise on Greece talks about loans, which may affect its participation in the euro area.

If the euro zone finance ministers on Monday will not be able to negotiate with Greece on the extension of the program of financial assistance, investors worried that Greece face a credit crisis that could induce her to withdraw from the euro zone.

"Concerns on the eve of talks with creditors Greece will continue to support gold as a low-risk assets," - said an analyst at ANZ Victor Tyanpiriya.

However, many analysts predict decline in gold prices, waiting for the Fed raising interest rates this year, which will increase the dollar.

Stocks of the world's largest gold ETF-secured fund SPDR Gold Trust on Friday fell by 0.42 percent to 768.26 tons.

Demand in the physical market in China remains high on the eve of New Year celebrations, which will begin on Wednesday, but traders note that sales are lower than last year.

"Physical demand in China will keep gold in the range of $ 1.220- $ 1.235 in the next two days before Christmas," - said in a statement trading firm MKS Group.

April futures of gold on the COMEX today rose $ 6.11 to 1231.70 dollars per ounce.