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On the last day of the week gold rose after four stable sessions on the weakening dollar and the strengthening of the euro. Euro on Friday strengthened the U.S. dollar and other world currencies following the increase in the prices of government bonds in Spain.
Support the European currency and securities in Spain had the newspaper Financial Times that the European authorities are involved in the development of new economic program the Spanish government, which should be released next week.
According to sources, the newspapers, the parties focused on measures that may be required from Spain's foreign creditors, if Madrid officially turn to them for help. This should provide the opportunity to harmonize these measures in advance.
The government's plan is to focus on structural measures on which long insisted Brussels, not in new spending cuts and tax increases.
Yield on 10-year benchmark government bonds in Spain fell in the course of trading on Friday, up 5.7%.
October futures price of gold on the COMEX is now 1773.3 dollars per ounce.
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