Gold falls, and a positive outlook for the U.S. economy affect the demand

Gold price technical analysis 30 - May, 2013

Gold prices fell on Tuesday, where she earned an upbeat outlook for the U.S. economy from the metal’s appeal as a safe haven, while the recovery in the stock market encouraged investors to sell gold.

The expected easing of monetary policy around the world in anticipation of an economic slowdown have boosted investment in gold as a hedge in the face of inflation, raising the price of spot gold 14% this year to about $ 1800 an ounce.

But the demand for safe assets began to lose lure him under the strong statements of the U.S. economy in recent months, raising investor confidence recovered in the largest economy in the world.

Said Jeremy Friesen analyst commodity markets at Societe Generale in Hong Kong, “inspects the investors investment options other with the decline of the concerns they have on economic growth and their desire to ride the wave of the rise of stocks, which contrasts with some of the reasons why people buy gold.”
And declining spot price for gold of 0.3% to 1655.35 dollars an ounce, after three consecutive sessions of gains, and the lost gold of America 0.7% registered 1655.50 dollars.

The price of silver in online transactions 2.8% to 32.3 dollars per ounce, after prices rose for three consecutive sessions as well, but not to penetrate the resistance level at $ 33, and declining price of platinum 0.15% to 1671.99 dollars an ounce, while fell palladium 0.35% registered 699.50 dollars.