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Gold is rising after a four-day decline against the backdrop of a weakening dollar. Euro on Friday walked away from a two-year low against the dollar, but continues to be under pressure amid fears that Greece will leave the eurozone.
Support for the euro had a statement of the Prime Minister of Italy, Mario Monti on the preservation of Greece's membership in the eurozone. On the eve of the bidders with optimism by the statement, Prime Minister of Italy, Mario Monti, that even in the worst case scenario, the output of the Greek unit of currency is unlikely. In addition, the politician said that the combined Eurobonds may occur in the near future, and Italy is ready to help push Germany to ensure that it supported the idea of a collective duty.Statements Monty encouraged investors and led to an increase in the single European currency.
Demand for the physical market in India - the world's largest consumer of gold - remains low, and premiums for gold bars in Hong Kong and Singapore have not changed compared to last week, as market participants await news from the eurozone. However, premium bars in Tokyo rose to $ 1.50 an ounce to the prices in London - the highest level since March 2011 - as investors began buying after the recent price cuts, dealers said.The cost of the June gold futures on the COMEX today rose to a high of $1569.9 per ounce.