(RTTNews) - The price of gold recovered from a two-day slump Thursday morning amid lingering worries over the euro zone sovereign debt issues. Also, traders appeared to have discounted the continuous surge in the U.S. dollar. Generally the price of gold is inversely related to the movements in the greenback. Gold for June delivery was up $9.50 to $1,184.50 an ounce. This week, gold oscillated between $1,192 and $1,156 amid a volatile currency market. Meanwhile, the U.S. dollar was hovering near its 15-month high versus the euro amid lingering concerns over the euro zone sovereign debt issue. The greenback was moving higher against the British pound. Speculation over the contagion of Greece debt issues created nervousness among traders after euro zone policy makers warned of a serious repercussions to a few other European nations. Also, rating agency Moody's Investor Service said it might downgrade its ratings on Portugal's debt in next three months. Meanwhile, Wednesday's demonstration by Greek's private and public sector workers against the stricter austerity measures proposed by the government as part of the $146 billion bailout package turned violent. Elsewhere, the prices of silver and platinum were ticking higher in morning deals. Traders will look to initial jobless claims data from the U.S.,due out later today, to gauge the strength in the recovery of the economy.

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