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Gold prices are falling, because the fear of the financial condition of Spain, investors get rid of riskier assets.
Concerns regarding the bidders to overcome the debt crisis in the euro area increased after the ten-year government bond yields in Spain on Monday exceeded the psychologically important level of 6%. This growth began last Friday, after it became known that the amount of borrowing by credit institutions of the country at the ECB in March increased about two times.
In addition, investor interest in safe assets, supported by analysts were worse than expected GDP data of China, which in the first quarter of 2012 increased by 8.1% compared with January-March 2011. The analysts expect the growth rate of 8.4%.
Trading volume is still lower than last year. According to the bank UBS, the average daily turnover on the Comex Exchange in April was only 61 percent of the March.
May futures on the COMEX gold fell today to $ 1641.4 an ounce.
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