With the euro falling further .. Gold falls to $ 1,634 an ounce

Gold price technical analysis 30 - May, 2013

The price of gold, on Tuesday, a decline in the spot market, where he arrived to 1634.91 dollars an ounce, died from a fall the euro.

According to British news agency “Reuters” that “gold prices fell withthe Euro continue to decline, owing to fears of austerity measureswhich it will accept a number of European countries to address the debt crisis.”

The contract fell U.S. Gold is also to 1635.40 dollars an ounce.

Analysts expect a rise in gold this year, although many say he is likely to recede in the short term gold.

And will last many global markets in the search for an alternative to the U.S. dollar, “weak”, with some markets went toward keeping the yellowmetal to a strategic reserve their central banks, instead of the dollar,which contributed to strengthening the demand for gold as a safe haven.

It is noteworthy that he is expected to continue rising with the price of gold rush of investors to the yellow metal safe haven, and speculationhigh rate of inflation in the United States because of printing moredollars to finance the economic stimulus plan.