Gold prices rose 1.3% during the past five sessions, the biggest weekly gain since last February. Gold 4 and scored successive rises as the data is disappointing and worrying about the European debt have boosted demand for the precious metal investment.
And accelerated purchases after a report showed a decline in investment spending of companies. Gold also benefited from purchases of seeking a safe haven.
In last week’s trading price of yellow metal in the spot market 0.4% to 1663.11 dollars an ounce, rose gold futures for June delivery was 4.30 U.S. dollars to 1664.80 dollars per ounce in trading volume is less than the usual first Friday.
On Thursday, gold prices rose to $ 1,650 an ounce derives support from the dollar fell to its lowest level in three weeks against the euro as the dollar came under pressure because of low interest rates.
At the meeting on Wednesday Spot gold rose 0.3% to 1648.84 dollars an ounce, while gold futures rose 7.60 U.S. dollars for delivery in June to an ounce of $ 1649.90. Increased spot price for silver of 0.3% to 30.77 dollars per ounce. And platinum rose 0.7% to 1556.49 dollars an ounce, and palladium rose 0.7%, recording 662.25 dollars per ounce.
The euro hit a three-week at 1.3234 dollars with a shrinking margin between the bond yield, Spanish, Italian, French and German counterparts, but that market concerns about the debt crisis of the euro area is still ongoing.
The dollar fell 0.2% against the Japanese currency to 81.16 yen. The Canadian dollar continued to rise after the central bank abandoned the Canadian bias to facilitate the monetary and the U.S. dollar fell to 0.9821 Canadian dollars.
The New Zealand dollar settled at 0.8170 dollars after falling earlier in the session after it said Central Bank governor Alan Bollard said the local currency is still high despite a drop in commodity prices in recent times and warned that this will affect monetary policy in the future.