Weak demand leads to lower gold prices

Gold price technical analysis 30 - May, 2013

Gold prices fell throughout the trading day yesterday, as caused by risk aversion in the market in the direction of gold to trend downward. In addition, the weakness of the euro has suspended the gold commoditymore expensive for foreign buyers, which could consequently lead tolower paid gold. Gold has fallen more than $ 15 an ounce and the lowest level at 1580.20 during the European session. Today, Weatheranalysts that gold still has room to decline as long as a constantconcern about the outlook for economic growth in the euro area. Andtraders will want to focus on several U.S. economic indicators during the afternoon session. And even cause any of these indicators to reflectthe current upward trend of the gold can offset some of the recentlosses.