Meanwhile, the price of gold contract for June delivery was not much to record changes in the position of 1641.80 U.S. dollars per troy ounce on the Comex in New York. Yesterday, the same contract fell 0.7 percent as the decline in the Standard & Poor's 500.
Factors that led to a sell-gold is the fear that European investors are currently difficulties in dealing with its debt crisis. This causes the position of the euro against the U.S. dollar to cut rates further depressed demand for gold as a safe haven.
"The European debt crisis will be the key to gold price movements in the short term," said Wang Xiaoli, chief investment strategist CITICS Futures Co.