The US dollar decline behind the rise of gold

Gold price technical analysis 30 - May, 2013

Forex markets today watched a decline in the US dollar especially against the CAD (Canadian dollar) today, in the last few weeks the investors trust in the US dollar increased after a lot of positive data about the cure of the US economy released from the USA, the issue which lead the investors to be away from Gold price which lead to the sharp decline in Gold price in the last three weeks, today every thing turned up side down, in which we had watched the rise of gold price.

Gold price today watched a rise by an average of 0.55% in all the global markets, we had two reasons for the rise of gold price today, the first reason came due to the bargain hunters which always entered the markets when they watch gold declined, the second obvious reason today was the decline of the US dollar against a lot of currencies today.

we could watch a huge fluctuate in gold price in this week, because we could watch an increase of demand on gold, most of investors see that it is the time to enter the market and i agree with them.