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The price of gold rising against the backdrop of withdrawal of investors from risky assets due to concerns about whether the financial assistance of the banking system in Spain would not be able to contain the spread of the debt crisis in the eurozone.
Last Saturday Eurogroup (eurozone finance ministers' council) found it possible to provide Spanish to recapitalize troubled banks and 100 billion euros from European funds, but market participants refer to this decision with caution.
In addition, with pessimism in the markets were taken by the Finance Minister of Cyprus Vasosa Siarlisa that the country may soon turn to the EU for financial assistance, which put additional pressure on investor sentiment.
The June gold futures on the COMEX today rose to 1608.6 dollars per ounce.
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