Shaking of global markets with the deterioration of the current banking and financial concerns

Gold price technical analysis 30 - May, 2013

Analysts said that investors sell their holdings of gold to cover losses in other markets as risk aversion triggered a wave of selling the assets that are considered high risk. And went down the price of gold in the spot market to 1573.29 USD/Troy per ounce at the lowest level since the third of January, after breaking the gold support level of $ 1579 dollarsan ounce, down 1% to 1578.56 dollars.

And went down the futures price of gold the U.S. in June to $ 16.601578.90 dollars. The spot gold prices fell about 4% during the last week in the worst weekly performance this year. Among other precious metals silver fell 1.4% to 28.58 dollars an ounce, tracking gold.

Platinum and lost in the spot market to record 1.3% of $ 1461.44 an ounce while the spot price of palladium 1.4% to 601.70 dollars an ounce, after touching earlier in the lowest level since mid-December at596.33 dollars.

Although gold is seen traditionally as an investment vehicle is safe but itwas severely damaged from an extensive sales during the last few days in the markets of assets, high risk, such as stocks and industrial metals and oil, which has forced investors and speculators to sell the precious metal to cover losses in other markets.