The price of gold is reduced to the background of the continuing concerns about the political situation in Greece, which has not yet formed a new cabinet after the early parliamentary elections.

At the same time, despite the uncertainty in Greece, which has increased speculation about a possible withdrawal from the eurozone countries, the head of the Eurogroup Jean-Claude Juncker, said yesterday that such a question at a meeting of eurozone finance ministers (Eurogroup) on Monday was not discussed.

To limit the decline in gold prices helped the high demand from the jewelry industry of Asian countries - India, Thailand and Indonesia.

Earlier Tuesday, the value of the metal support provided preliminary evidence that the German economy in the first quarter of 2012 increased by 0.5% compared with the previous quarter. Analysts had expected German GDP in the quarter grew by only 0.1% over the fourth quarter of 2011.

The cost of the June gold futures on the COMEX fell today to $ 1546.8 an ounce and is currently trading at around $ 1552.1 an ounce.