Go Finance Reporting in SINGAPORE - The price of gold was observed to stabilize in the middle of the weakening United States dollar (U.S.) and concerns the Greek debt crisis, fears of falling consumer data the U.S. housing market data.
As quoted by Reuters on Monday (05/30/2011), the gold price steady at USD1.535, 45 per ounce. The price of this precious metal rose 1.8 percent last week. While the price of silver in the spot market rose 1.1 percent to $ 38, 32, build up 8.1 percent last week. Silver in the U.S. rose 1.2 percent to $ 38, 33.
Amid fears of Greece's debt crisis, officials of the International Monetary Fund (IMF) and European Union say they did not anticipate the debt restructuring in Greece.
Consumer spending slowed, and home sales data in April were at its lowest level in seven months. This sparked concerns that U.S. economic recovery has lost momentum, as a result the dollar tumbled almost penetrate the lowest level in three weeks. (GoFinance)
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