Gold trimmed losses on Thursday as the dollar fell, while disappointing given that Italy canform a new government soon to implement reforms and to contain the worsening debt crisis of confidence some investors to bet on commodities.
During the past two days, investors sold commodities including gold, with the worseningdebt crisis of the euro area amid fears of a default on the repayment of debt of Greeceand Italian bond yields rise dangerously.
And improved investor sentiment and global prices rose after there were reports on Thursday that Commissioner Mario Monti, former European and international personalityrespected is the favorite to succeed Prime Minister Silvio Berlusconi.
The price of spot gold fell to its lowest level during the day at 1753.39 USD/Troy an ounce, said analyst Andre Kriuchenkov in. T. RHB Capital “occurred because of poor recovery ofthe dollar and the Italian news but you continue to optimism .. I do not know. ”
Silver fell 1.5% to 33.67 dollars an ounce, while platinum fell 0.26% to 1621.50 dollars an ounce and palladium down 0.66 to 640.22 USD/Troy an ounce.