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Gold prices are falling as the dollar is growing, and doubts about the ability of Italy to resolve the debt problems remain even after the resignation of Prime Minister Silvio Berlusconi.
Italian Prime Minister Berlusconi resigned on Tuesday after ceasing to resist the increasing pressure after a vote in Parliament showed that he had lost the support of most members.
Euro drops, and the dollar rising against all currencies. The yield on the 10-year government bonds in Italy reached 7 percent, with the level of profitability of Portugal and Ireland have been forced to seek financial help.
Against the backdrop of the growing debt crisis in Europe the price of gold reached a record high in September in the 1,920 dollars per ounce, and from the beginning of the year the price has risen by 25 percent.
Stocks of the world's largest gold ETF-secured fund SPDR Gold Trust on Tuesday rose 0.67%. Demand for gold in China will grow by 50 percent this year to 400 tons, exceeding domestic production by investment demand, said Wednesday edition of the China Securities Journal quoting the president of China Association of gold Sun Zhao Xue.
Today, December gold futures on the COMEX traded in the range of 1779-1801 dollar / oz.
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