At auction in New York, gold is consolidating above $ 1,800 an ounce. Earlier, the precious metal has lost in value against the dollar rising, which strengthened against the euro to nearly two-week maximum. This was facilitated by increased concern of investors about the worsening debt crisis in Europe. According to analyst UBS, Edel Tully, market participants can not choose the direction of motion. She also noted that trading volumes have declined, and gold can stay in limbo until the end of the week. Tully adds that the consolidation of gold above $ 1800 an ounce is quite expected, given the sudden changes occurring earlier in the price. At auction in London gold for September delivery fell to $ 5.90 and was kept in the $ 1825.80 an ounce. Earlier, on August 23, the precious metal found in the historical record $ 1917.90 an ounce. For the previous month gold strengthened by 12%, the biggest increase since November 2009. At auction in London the precious metal from the immediate delivery remained at approximately the same level - $ 1823.68 per troy ounce.
