Gold prices drop on the background of the new negative from Europe and the subsequent strengthening of the dollar, to which precious metals are usually traded in different directions. Falling prices for precious metals comes amid statements by S & P lowered ratings of a possible 15 of the 17 eurozone countries, including France and Germany. On Tuesday, the agency also placed on the list to review with rating downgrade of the European Financial Stability Fund (EFFS), loans to Portugal and Ireland.

Today, December gold futures trading at the New York Stock Exchange on Comex fell to1703.0 dollars per troy ounce.