Gold and other precious metals are settling higher after a drop below technical trading levels brought out buyers.

A weakening of the dollar also pushed up the price of gold, which many investors see as an alternative to holding dollars. The dollar fell against the euro after Greece moved closer to securing new emergency loans needed to avoid a debt default.

Gold for August delivery rose $10.20 to settle at $1,510.40 an ounce Wednesday. July silver rose $1.112 to settle at $34.750 an ounce.

Buyers moved in this week after gold dipped below $1,500 and silver fell below $34. Analysts said many investors have been waiting for prices to get below those thresholds before buying.