Gold falls after rally global agreement because of the European Union

Gold price technical analysis 30 - May, 2013

Gold prices fell on Monday, to taking a breather after rising 3% in the previous session, as the initial enthusiasm gave the agreement to help the euro zone members indebted to the feelings of caution area on the effectiveness of the plan.

The spot price of gold scored the largest gains for a single session for a month on Friday after the agreement of the leaders of the euro area on Li rules assistance to strengthen the banks and cut borrowing costs for countries such as Italy, Spain In a sign that the cluster adopts a more flexible approach to resolve its debt crisis.

But optimism receded when the market opened in the first session of the third quarter of the year with the decline in the euro and oil, where investors are wondering to what extent the agreement would help in addressing the crisis.
It fell 0.3% to 1591.64 USD/Troy an ounce, and the precious metal rose more than 2% in June, the first monthly increase in 5 months, and dropped the American Gold for August delivery 0.7% to 1592.40 dollars.

The price of silver in 0.7% online transactions, recording 27.28 dollars an ounce, platinum lost 0.7% to reach 1432.25 USD in the neighborhood of palladium fell 0.2% to 577.13 dollars an ounce.