Indications of an economic slowdown in the U.S. also prompted investors to acquire safe-haven assets, according to a Thursday note from Mark Pervan, commodity research head with ANZ Banking Group. The precious metal's prospects climbed as the U.S. central bank continued purchasing it.
At 9:39 a.m. on Thursday, gold futures edged down 0.13 percent, a $2 drop to $1,541.20 per troy ounce.
Reuters reports Greece will deliver a new budget plan on Friday, the most recent of its efforts to navigate rough economic waters since accepting a June 2010 bailout. Once officials in Athens complete talks with the European Commission, the European Central Bank and the International Monetary Fund, Prime Minister George Papandreou will convene with Jean-Claude Juncker. Juncker, chair of the euro zone finance minister group, also is Luxembourg's prime minister.
Moody's slashed Greece's credit rating while noting the likelihood of the Aegean nation defaulting on loan payments is even.
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