Stability of the gold after shrinking factory activity in China

Gold price technical analysis 30 - May, 2013

Did not record gold prices little changed today, Thursday, and hovered around the $ 1,650 an ounce, as investors measure the improvement in the U.S. economy in recent times against the continuing decline in manufacturing activity in China.

Gold prices have fallen by two percent since the beginning of this month, having squandered the latest statement by the Federal Reserve (Fed) hopes to do more asset purchases, data showed in the recent period that the U.S. economic recovery on track.

But some economists said the global economy is still vulnerable this year, as the chances are for renewal of the debt crisis of the euro zone recovery is still at an early stage in the U.S., while China is facing a slowdown in growth.

And settled in the gold spot market at 1649.49 USD/Troy per ounce by the time 0622 GMT, after scoring in the early trading at a high level of $ 1656.01 an ounce.

And U.S. gold settled also little changed at 1649.50 dollars, and silver fell 0.06 percent to 32.10 dollars an ounce, and platinum price fell 0.2 percent to 1630.69 USD/Troy an ounce, while palladium rose 0.24 percent to 682.17 dollars an ounce.