The price of gold rebounded yesterday as the dollar fell slightly lower European stocks, as well as the erosion of optimism about a possible deal between Greece and creditors.
The price of gold rose 0.2% in spot transactions to $ 1190.20 an ounce, after hitting its lowest level in two weeks at $ 1183.76 in the previous session due to the rise of the dollar.
The price of gold in US futures contracts for June delivery of $ 2.70 to $ 1188.30 an ounce.
The analyst said in «Commerzbank», Daniel Preezman, that «there is some support from the situation in Greece, but do not expect any significant rise in prices for the time being».
He added that gold is likely to remain hovering around $ 1200 with continuing uncertainty about the Greek crisis, interest rates in the United States.
Exacerbate Greece’s debt crisis to the increasing demand for gold coins and gold bullion may lead.
Usually seen gold as a hedge against political and financial risk, although the impact of the broader political concerns on demand are usually short-term.
The price of gold fell 1.7% last Tuesday in the biggest drop in a single day since last April, after US data showed an increase in the basic corporate spending and new home sales and consumer confidence.
The strong US data reinforced expectations that the Federal Reserve increases the (US central bank) interest rates soon.
The price of silver rose 0.1% to $ 16.65 an ounce, after hitting its lowest level on 13 May at $ 16.55 the day before yesterday.
Platinum climbed 0.2% price to $ 1119 an ounce, while palladium rose 0.3% to $ 786 an ounce.