Gold drops in the correction after Friday's growth

The official price of gold on the Commodity Exchange in New York COMEX trading Friday on the results of June 1, 2012 increased by 3.7% for the first time since the beginning of May 2012 established above 1600 USD/oz. Troy ounce of gold on COMEX has risen to 57.9 dollars, while the official price of its active futures (August) amounted to 1622.1 dollars / ounce - the highest figure since May 4 this year

Since the beginning of the summer season on the COMEX gold futures rose due to increased investment demand for physical gold, caused by fears of further worsening the debt problems of the eurozone. Assets of ETFs SPDR Gold Trust, which is the world's largest holder of gold among investment institutions, June 1, increased by 3.6 m and amounted to 1 273.9 thousand tons - a maximum of two weeks (after May 21, 2012).

Under the influence of bad data on the status of the U.S. labor market the U.S. dollar fell against the June 1 euro and other currencies, which further ensured the conditions for the purchase of gold bullion. The dollar index for the six major world currencies has dropped by about June 1 to 0.2% and dropped to a minimum of three sessions, set below 83 points.

Today, June gold futures on the COMEX is trading in a range 1609,0-1627,9 USD/oz.