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Gold rises in price after three days of decline, although the depreciation of the euro to a two-year low against the dollar holding back price increases.
Euros on Thursday dropped nearly two-year low against the dollar after the publication of weak macroeconomic data in Germany.
European investors tend to sell the gold with a decrease of the euro against the dollar in order to earn foreign exchange positions by profit-taking positions in gold, denominated in dollars.
According to the International Monetary Fund, the Philippines, in March increased the gold reserves at 32.13 tons to 194.241 tons, making a major purchase since September 2008.The cost of the June gold futures on the COMEX today rose to a high of $ 1577.7 per ounce.
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