Dollar prices to Buy Gold rose sharply to a six-week high of $1757 per ounce late on Thursday morning - though only 0.7% above last week's close - following reports that Greek prime minister George Papandreou was on the verge of offering his resignation.

Eurozone leaders were openly discussing a Greek exit from the Euro last night, while the Greek government was reportedly close to collapse, after another member of prime minister Papandreou's party indicated they will not support the government in a confidence vote scheduled for tomorrow - taking Papandreou's majority down to one.

Stocks and commodities gained, while the Euro dropped sharply following the European Central Bank's decision to cut interest rates. The ECB meantime cut its key interest rate Thursday by a quarter-point to 1.25%, following its first monetary policy meeting since Mario Draghi took over as president.

Gold futures for December delivery raised to $ 1.768,30 per troy ounce in New York