NEW YORK (TheStreet) — New York spot gold prices have risen early afternoon, driven by a combination of partially Greece-driven debt worries in the European Union, earthquake news out of Chile, and reports that North Korea may have hit and sunk a South Korean naval ship with a torpedo Friday.

The ship sank early Saturday morning near a disputed border with North Korea.

According to a South Korean naval commodore, 58 of the ship’s 104 crew members had been rescued by early Saturday morning; rescue operations are ongoing.

It has also been reported that a South Korean battleship had earlier fired at an unidentified vessel nearby. South Korean cabinet members have promptly convened an emergency meeting.

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