The price of gold in transactions with the instant renewed concerns about the safety of the euro area by a financial summit in Paris between French President Nicolas Sarkozy and German Chancellor Angela Merkel is trying to find a solution to which the debt crisis in the region.Fueled the growth data from Germany and the euro area have not been welcomed in the market is concerned that the region may be far from restoring its economic, pushing European stocks and the single currency for the drop and increased the appeal of assets which are seen as safe havens such as gold and Swiss franc.
Gold rose in the spot market 0.8 percent to 1779.69 dollars an ounce at 0913 GMT, partly reflecting a correction began in late last week after he scored a record of $ 1813.79 on Thursday. The metal is still up 25 percent since the beginning of the year as a result of concerns about the debt the U.S. and the eurozone.
Said Andrei, an analyst at the Creochenkov. T. RHB Capital "stocks fell today and picked up the dollar and the data on gross domestic product in Germany in the second quarter I was disappointing to some extent.
"Is still a state of anxiety and uncertainty gripped the market in general before the meeting Merkel and Sarkozy today."
And European shares fell more than one percent after the GDP growth in Germany Botbrh slower than expected in the second quarter, influenced by a negative trade balance and reduced consumption and low investment in construction work.
The data pushed the euro to come down from the highest level in three weeks against the dollar, while prices of Treasury bonds with Germany's faltering recovery of the initial appetite for risk.
The decline in risk appetite due to read more of GDP in the euro area later showed that the region's economy grew less than expected in the second quarter.
Rose gold futures in the United States for August delivery 40.24 to $ 1782.40 dollars an ounce.
And got the spot price of silver 1.1 percent to 39.42 dollars per ounce.
And platinum rose 0.4 percent to 1810.74 dollars, while palladium dropped 4.0 percent to 741 dollars per ounce.
Gold rose in the spot market 0.8 percent to 1779.69 dollars an ounce at 0913 GMT, partly reflecting a correction began in late last week after he scored a record of $ 1813.79 on Thursday. The metal is still up 25 percent since the beginning of the year as a result of concerns about the debt the U.S. and the eurozone.
Said Andrei, an analyst at the Creochenkov. T. RHB Capital "stocks fell today and picked up the dollar and the data on gross domestic product in Germany in the second quarter I was disappointing to some extent.
"Is still a state of anxiety and uncertainty gripped the market in general before the meeting Merkel and Sarkozy today."
And European shares fell more than one percent after the GDP growth in Germany Botbrh slower than expected in the second quarter, influenced by a negative trade balance and reduced consumption and low investment in construction work.
The data pushed the euro to come down from the highest level in three weeks against the dollar, while prices of Treasury bonds with Germany's faltering recovery of the initial appetite for risk.
The decline in risk appetite due to read more of GDP in the euro area later showed that the region's economy grew less than expected in the second quarter.
Rose gold futures in the United States for August delivery 40.24 to $ 1782.40 dollars an ounce.
And got the spot price of silver 1.1 percent to 39.42 dollars per ounce.
And platinum rose 0.4 percent to 1810.74 dollars, while palladium dropped 4.0 percent to 741 dollars per ounce.
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