Gold is over 1660 USD/Troy an ounce

Gold price technical analysis 30 - May, 2013

Gold settled over 1660  USD/Troy an ounce on Monday, after rising for four consecutive sessions, as derived from the price supportspeculation that the Federal Reserve is called, a new round ofmonetary easing.

According to a Reuters that “the price of gold in online transactions of $1662.31 per troy ounce, compared with 1662.32 in late trade on Friday.

Gold has fallen from its record high levels in early trading after risingslightly against the dollar with the euro single currency affected by theatmosphere of caution ahead of a meeting of the central Europeanelections in France and Greece.

Analysts expect a rise in gold this year, although many say he is likely to recede in the short term gold.

And will last many global markets in the search for an alternative to the U.S. dollar, “weak”, with some markets went toward keeping the yellowmetal to a strategic reserve their central banks, instead of the dollar,which contributed to strengthening the demand for gold as a safe haven.

It is noteworthy that he is expected to continue rising with the price of gold rush of investors to the yellow metal safe haven, and speculationhigh rate of inflation in the United States because of printing moredollars to finance the economic stimulus plan.