ok let see analise about Decrease in Gold = Correction instant
Gold prices fell due to reduced fears of debt crisis Greece today (31/05). But the weakening dollar is still giving support to the precious metal. Gold slipped from a high level 4-week ($ 1540) yesterday after European leaders meet to discuss bailout for Greece's second. Technicians Reuters, Wang Tao, predicting gold will retrace to $ 1514.
"The decline of gold is merely a correction as the decrease in anxiety over Greece," said Darren Heathcote, bigwigs Investec Australia. The market is quiet with the resolution. Technically, gold may continue with the correction, but there is no reason gold passed $ 1,520. Greek debt crisis has not been fully resolved so that the market remains skeptical of the ability of state funding problems in the euro-zone.
The weakening of the dollar managed to reduce further decline in gold. However, investors want to see the details of U.S. employment data that will be released Friday to see how strong the recovery. Especially when Uncle Sam's country economic indicators weakened lately.
