Gold reduces the global stock market losses

Gold price technical analysis 30 - May, 2013

Reduced the gold from its losses during the last period when it rose today prices stock markets of Europe and so on after reading the positive growth indicators German, prompting the euro to record up against the dollar, prompting investors to demand for precious metals beneficiaries of the decline in levels during the last period, but this increase was not enough to erase the losses during the past period.

In spite of the rise in gold prices to 1560 USD/Troy an ounce in Europe today, but there was still fears the exposure of gold to more losses in light of ongoing concerns about the future of the euro area, increasing the pressure on the single currency.

In at 09:24 GMT, the spot price of gold up 0.1 percent to 1557.80 USD/Troy an ounce, while gold fell U.S. $ 3.50 for June delivery to an ounce of $ 1557.50.

Earlier in the record gold lowest price since Dec. 30 when it reached 1547.99 USD/Troy an ounce and is still the precious metal was down more than six percent since the beginning of May for moving towards the worst monthly performance since the sharp losses suffered in December in the interview that Greece had graduated from the euro, raising fears of investors.

And silver rose in European trade 0.5 percent to 28.26 dollars an ounce after falling to its lowest rate since the third of January, when recorded in the earlier of $ 27.93.

The price of platinum and one percent to 1446.69 USD/Troy an ounce, while palladium offers registered 2.1 percent of $ 599.20.