Gold futures rise for second day in a row above the level of $ 1700

Gold price technical analysis 30 - May, 2013

Continued gold traded on the New York Stock Exchange to rise for a second day in a row as a result the return of the euro to rise against the dollar, which strengthened the rise of commodities, including precious metals.

The euro has continued to rise against the dollar for a second day in a row, before the decision of the European Central Bank’s interest rates, amid optimism Greece plan to complete the debt exchange with the private sector, allowing them access to the second rescue plan.

This has been the single European currency rose 0.6% to the level of 1.3226 at about two o’clock and eight minutes pm GMT, after N reached earlier in the highest levels in four sessions at 1.3232.

The contracts for the precious metal for April delivery / April rose 1.2% exceeded the level of $ 1700 to 1704.8 USD/Troy an ounce before rising slightly reduced this to 1700.6 dollars in the second hour and seventeen minutes pm GMT.

Referred to as the Bank “UBS,” the Swiss have noted today that the third quantitative easing by the U.S. Federal Reserve would be the most important factor in the movement of gold in the coming period.

The silver has risen by about 1.6% to 34.19 dollars, while palladium added 1.4% above the level of $ 695 to the top, either platinum rose 1.25% to a level of $ 1648