High decline in gold

Gold price technical analysis 30 - May, 2013

Gold continues to struggle following the Attitude toward the second weekly decline in a row. Gold has failed to make any progress, despite the escalation of the crisis and thecontinued activity of central banks in the procurement process in the actual marketinvestments through ETFs that have achieved a new record level reached 2.350 tons.

In general we can say that investors in ETFs have an investment horizon longer range, reinforcing the belief that gold will continue to perform well in the coming months. As we mentioned last week, the biggest danger in the face of gold in the near term arises from the general situation of seeking to reduce the risks and that control is in most asset classes, along with the continued recovery.

The remaining technical picture is weak in general as long as the price continues without 1.710 The risks at the present time towards a more than doubled withthe breaking of the scope of the level of less than 1.665USD/Troy an ounce to indicate to  1,600USD/Troy an ounce, which represents the lower levels that have been made previously and average over 200 daysrelated to . The dollar is approaching overbought levels for the time being against mostmajor currencies, and gold will receive support from the correction process too late.