FXstreet.com (Barcelona) - Gold recovered over last week on lingering euro zone debt fears, and today is fluctuating within a tight range on the volatility of the euro after Spain's downgrade Friday. Currently the gold future for August delivery, the most active contract, is trading in at $1215.20 where it is slightly below the opening price.
Bullion trading is light today as the US and UK markets are on holiday, with prices being dictated by the strength in the euro relative to the US dollar. Gold fell in the early hours of the Asian session when the euro recovered from lows touched last Friday, however has since made back some of those losses as the euro slumped below 1.2300. Analysts' expect movements over the day to be modest unless there is some breaking news and trading volume spikes momentarily.
