Rise in gold before a meeting of euro zone

Gold price technical analysis 30 - May, 2013

Gold prices rose in Europe, on Friday, with the support of the dollar fellto its lowest level in a month, but prices are still moving in a narrow range before a meeting of euro zone finance ministers later in the dayto discuss the increase in funds to save the region’s countries.

And rose gold spot price 0.1% to 1663.11 USD/troy an ounce, and the precious metal in the process to achieve a gain of 6% in the first 3 months of 2012 after recording his first quarterly decline in three yearsat the end of last year.

Said Peter Vertige, an advisor at the Quantatev Commodity Research,”In general, gold is still largely intact due to weakness of the dollar, giving gold some support.”

The dollar reached its lowest level in a month against a basket ofcurrencies today under the weight of a huge wave of selling against the pound sterling.

Among other precious metals silver rose 0.8% to 32.46 dollars an ounce. And platinum rose 1.2% to 1641.70 dollars in the process to achieve the best performance and prayed in three years, up 17.6%,and palladium rose 1.1% to 649.22 dollars an ounce.