Gold falls with rise of U.S dollar and going to weekly loss

Gold price technical analysis 30 - May, 2013

Decline in the price of gold on Saturday, under the pressure rise of the dollar in the process of recording the biggest weekly loss since mid-December, after a sell-high earlier in the week, but investors have not lost their appetite for the precious metal.

The dollar rose to its highest level in nine months against the yen and 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 than their holdings of gold in their own currency for.

And head of gold to record the biggest weekly decline since mid-December, after having been subjected to intense pressure in the futures market the U.S. last Wednesday, and declining gold price in the spot market 0.5 percent to 1707.51 dollars per ounce on his way to a total loss by three percent this week.

Analysts said the huge injection of liquidity from the European Central Bank this week increased the attractiveness of the euro to finance purchases of higher-yielding assets.

And rose gold denominated in euros 0.4 percent to 1294.23 euros an ounce, but it tends to lose 1.8 percent over the week, and the decline Platinum 0.1 percent to 1693.99 dollars an ounce, has lost 0.4 percent only of its value this week, and fell palladium and one percent to 707.25 dollars an ounce, while landed silver 1.6 percent to 34.86 dollars an ounce.