Gold rises after a deal to support the European Union Spain

Gold price technical analysis 30 - May, 2013

Rose gold futures rise sharply during the European morning trade on Monday, after the European Union agreed to lend to Spain 100 billion waging to save its banks, easing concerns about an escalation in the crisis of sovereign debt in the euro area

. Boosted the euro against the dollar. In the COMEX division of the New York Mercantile Exchange, the futures trading of gold for August delivery at 599.15, $ 1 per ounce during the early European trading, up by 0.5%.