Gold price today starts to decline globally

Gold price technical analysis 30 - May, 2013

gold price today in the global markets starts to decline, the decline for gold price today was expected after the global rise in gold price for more than six month in which gold price break the barriers of 1700 USD/troy an ounce of gold because of the continuous of weak economic data globally starts by the weak economic data of china, followed by the European crises ended by the US economic data which came disappointing for the global market.

after the continuous of weak economic data, gold considered as the safe heaven for investors to keep the investors away from the expected global financial crisis, most of investors rushed to buy gold as a reserves plus the central banks starts to consider gold as the safe heaven instead of US dollar which starts to decline globally.

on the same run gold record today a slight decline which could be an indicator for gold prices for the next week in which gold record now in the spot market a decline equal to -0.61% for gold prices today to record 1724.80 USA.troy an ounce of gold.

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