Gold and silver prices rose in London trading with the dollar down against the euro as the Greek parliament passed the first of two austerity measures required to receive a final tranche of EU bailout funds.

Passage is viewed as clearing the way for the European Central Bank to raise interest rates at its July 7 meeting next week, making the euro attractive vis-a-vis the U.S. dollar. Though ongoing protests in Greece and doubts about implementing the cuts remain a source of uncertainty and risk, according to market reports, the euro came off its high following the Greek vote.

One trader saw gold stocks in a “win-win” scenario, saying that gold prices would rise if the Greek austerity budget failed to pass, as well, as investors would bid gold up as a safe haven.

Spot gold was set at $1504.25 at the London p.m. fix, $5.25 higher than yesterday’s p.m fix and was trading at $1504.20 Bid, $1505.20 Ask in early N.Y. trade, up some 0.14% from the open.  Spot silver was set at $34.39, $0.43 above yesterday’s p.m fix and was trading at $34.12 Bid, $34.22 Ask, up around 0.53%.

The major gold and silver ETFs were moving higher in early trading.

• The SPDR Gold Trust (NYSE: GLD) was trading was up around 0.2%.
• The iShares Gold Trust (NYSE: IAU) was up some 0.14%.
• The iShares Silver Trust (NYSE: SLV) was up more than 0.7%.

Gold and silver mining ETFs were heading higher as well.

• The Market Vectors Gold Miners ETF (NYSE: GDX) was up some 0.9%.
• The Market Vector Junior Gold Miners ETF (NYSE: GDXJ) was up more than 1%.
• The Global X Silver Miners ETF (NYSE:SIL) was up more than 0.2%.

Individual gold mining shares were trading higher as a group.

• Agnico Eagle Mines (NYSE: AEM) was trading some 0.4%-0.5% higher.
• Barrick Gold (NYSE: ABX) was trading higher, up between 1.1% and 1.2%.
• Goldcorp (NYSE: GG) was up between 0.8% and 0.9%.
• Newmont Mining Corp. (NYSE: NEM) was trading up around 0.9%.
• NovaGold Resources (AMEX: NG) was up more than 0.75%.

Silver mining stocks were mixed, however.

• Coeur D’Alene Mines Corp. (NYSE: CDE) was some 0.2% lower.
• Hecla Mining (NYSE: HL) was up more than 0.25%.
• Pan American Silver Corp. (NASDAQ: PAAS) was up between 0.10 and 0.20%.
• Silver Wheaton Corp. (NYSE: SLW) was trading lower some 0.20%-0.50%.
• Silver Standard Resources Inc. (NASDAQ: SSRI) was trading more than 1% higher.