Yesterday the gold cost was rising after a sharp drop on Monday. It was prompted by the dollar rate weakening which traditionally improves the demand for precious metal.
The June futures for Gold ticked up in price by 0.9% - to the level of 1647 dollars per troy ounce. On Monday the Gold prices dropped by 0.6% amid the American currency rising after negative findings on production PMI index of China.
In total the metal had gained 6.7% for the first quarter 2012. The US dollar index reflecting the American unit cost versus the six currencies basket advanced by 0.3% to 79.13 points after easing of demand for reliable assets with lower fears about the European recession spreading.
The analysts denote that although the gold price is moving up, the investors are concerned over weak purchasing capacity from the main world consumer of gold - India and over low jewelry demand.
