Gold is the biggest looser

Gold price technical analysis 30 - May, 2013

Gold declined on Wednesday to the lowest level since January 25, and the price of gold per ounce to 1683 USD/Troy per ounce during the period as a result of the European state of relative calm, which controls the market in the absence of important economic data today.
This has affected the euro situation calm this down to its lowest level since Feb. 17 last, after the decline in European equity indices and the U.S. yesterday which impact negatively on the orientations of risk in the markets, the price of the euro against the dollar to 1.3131 dollars per euro.
This and the dollar index, which measures the strength of the dollar against a basket of major currencies, reaching its highest level since Feb. 16 last, and the index of the dollar during the period of the European rise to levels of 79.73, the highest level since mid-February, driven by the orientation of investors to safety as a result European shares fallmorning and declining futures U.S. equity indices.
In terms of economic data has index GDP in the euro zone with data that have been announced today conform to the expectations of where the data showed contraction of the euro zone economy by 3.0% and is something which has had a negative impact on the euro, thereby putting more pressure on the single European currency .
Commenting on the movements of the day said Noureddine Hammouri, chief market strategist of Amana Capital, that the “rise of the dollar today comes with lower indices of European and U.S. yesterday and there is no major economic data today, which led to a situation of displacement risks and push the dollar to rise, at which time we have seen a decline in the goods again, especially gold and silver. “