() New York – Germany has approved the bailout package for Greece which in turn may have helped cool the thirst for gold Friday morning that otherwise may have seen price levels above $1,200 per ounce.  Still, gold stocks are enjoying the increase in gold bullion prices.

Following a heated debate by German lawmakers, Germany has approved its share of the Greek bailout package after lawmakers agreed that they had no alternative but to go along with the finance package.  As news of the decision came down, risk adverse trading in gold futures helped ease rising precious metals prices Friday in New York, though by noon gold had climbed back to $1,199.80.

May gold, which opened at $1,203 Friday morning, was down at $1,194.60.

Silver futures rose 26 cents, or 1.48%, to $17.75.

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