Decline in the price of gold

Gold price technical analysis 30 - May, 2013

Decline in the price of gold on Saturday under pressure from rising dollar in the process of recording the biggest weekly loss since mid-December after a wave of heavy sellingearlier in the week.

The dollar rose to its highest level in nine months against the yen also rose against the euro, which put pressure on gold, which usually moves opposite the direction of the U.S. currency because investors are non-Americans are able to make a profit greater thantheir holdings of gold in their own currency for.

Current price of gold: 1712