By Barbara Kollmeyer
MADRID (MarketWatch) -- Gold rose Tuesday in afternoon European trading hours as investors eyed a Group of Seven conference call of central bankers and finance ministers. Gold futures for August delivery rose $5.20 to $1,619.10 an ounce. Investors were looking ahead to the emergency G-7 call for later, which is set to discuss the euro-zone crisis. Gold rose even as the dollar also gained against the euro EURUSD -0.70% after Treasury Minister Cristobal Montoro said Spain had effectively been shut out of bond markets as evidenced by high borrowing costs. A European Central Bank meeting will also be closely watched for Wednesday. Silver for July delivery SIN2 +1.12% rose 31 cents, or 1.1% to $28.32. Among other metals, palladium for September delivery fell $1.40 to $612.50 an ounce and platinum for July delivery PLN2 +0.85% jumped $12.10, or 0.9%, to $1,439.40 an ounce.
