Gold rose on Tuesday, reversing initial losses after Standard & Poor's threatened to downgrade the entire eurozone including the region's core economies and its financial rescue fund. Spot gold edged up 0.3 percent to $1,725.99 an ounce by 2:37 pm EST (1937 GMT), after the previous session's 1.4 percent drop. It earlier fell to its lowest level in nearly a week at $1,701.99 an ounce.
US February gold futures settled down 20 cents at $1,731.80 an ounce. Volume was about 60 percent below its 30-day average, with some traders saying a disappointing December could be in store as many trading books shut early. Silver gained 2.1 percent to $32.69 an ounce, while platinum inched up 0.3 percent to $1,520.75 an ounce.