The values of precious metals remained stable as preoccupations about Europe's debt-ridden financial institutes directed investors toward the haven assets, Bloomberg reports.
Gold bullion for immediate delivery slipped $1.72, 0.1 percent of its value, to $1,383.63 per troy ounce just after 11 a.m. London time. Immediate-delivery silver hardly changed at $29.2225 per troy ounce while palladium remained at $751.90 per troy ounce. Platinum increased 0.3 percent to $1,729.50 per troy ounce.
"With downgrade threat set to intensify euro-zone default fears we expect gold to remain underpinned by investment demand for some time to come," according to a report by James Moore, an analyst at TheBullionDesk.com in London.
As European nations struggle to emerge from the debt crisis, the central bank will lend the nations' banks nearly 150 billion euros ($196 billion) for a three-month period that will see them through year-end liquidity requirements.
"The euro zone still looks uncertain, supporting gold," Hwang Il Doo, a senior trader at Korea Exchange Bank Futures Co. in Seoul, told Bloomberg. "Since many see gold rising further next year, there's demand to buy on dips, which actually helps keep the metal from falling significantly at year-end."
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