Gold is going up against a weakening dollar

Market news

30 March 2012

Gold is going up against a weakening dollar

Gold prices rise on Friday after the news from Europe led away down the dollar relative to world currencies including the euro.

On Friday it was reported that the finance ministers of the eurozone (Eurogroup) agreed to fund an increase in the financial stability of the eurozone up to 800 billion euros. This figure includes existing commitments European Foundation for Greece, Ireland and Portugal.

Against this backdrop, the dollar to a basket of six currencies of countries - major U.S. trading partners fell by 0.29% - up 79.13 points.

April futures price of gold on COMEX today rose to $ 1668.9 an ounce.

European stocks closed in minus: FTSE 100 5,768.45 +26.42 +0.46%, CAC 40 3,423.81 +42.69 +1.26%, DAX 6,946.83 +71.68 +1.04%

The head of the Eurogroup Jean-Claude Juncker adjourned the meeting of finance ministers of the eurozone

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