Tension of global economic help to support gold

Gold price technical analysis 30 - May, 2013


Gold prices rose to its highest price at 1627.75 USD/Troy an ounce during the trading session yesterday, as the financial problems coalesced in the euro area with the economic recovery is slowing in the United States to support the precious metal. And investors turn their money into gold as an asset of the safe-haven assets amid fears the recent slowdown in the global economy.
During today’s trading, traders will want to focus on any news from the Euro zone and America, where it may help to determine the direction taken by the gold. And any negative statements especially with regard to the current economic situation in Italy, may cause the extension of gold in the current upward trend.