Gold rose in the hope that the forthcoming EU summit will allow politicians to reach a new level of problem solving the debt crisis in the eurozone. French President Nicolas Sarkozy and German Chancellor Angela Merkel met in Paris to coordinate their positions on the issue of centralizing the management of the budgets of the euro area in an attempt to stop the debt crisis that threatens the collapse of the currency bloc. The leaders of France and Germany to overcome the remaining differences in order to submit a final proposal at the EU summit which starts in Brussels on Thursday.

Today, December gold futures trading at the New York Stock Exchange on the Comex rose to 1752.60 dollars per troy ounce.