Gold tends to drop the worst record in the week since March

Gold price technical analysis 30 - May, 2013

Gold continued to decline in Asian trading on Friday, headed for a score as losses in the week since March under pressure from the decline inthe euro and equities, with the failure of investors to get rid of their fears about Europe’s debt crisis that threatens global economic growth.

Although gold is seen traditionally as the investment vehicle is safe, but it was severely damaged from an extensive sales this week in asset markets with high-risk such as stocks and industrial minerals, oil, forcinginvestors and speculators to sell the precious metal to cover losses inother markets.

And dropped the price of gold for immediate sale about 10 dollars to1584.60 USD/Troy an ounce.

Futures fell U.S. gold for June delivery was 10.5 to $ 1585.0 USD/Troy an ounce, after it had been stepped up above the level of $ 1600 for a brief period on Thursday.