USD News: Over USD 1.600 gold with a jump of 3.5%

He returned more than 1600 USD gold Friday noting jump above 50 USD as the USD was to be aware of heavy losses against the EUR after the announcements of European leaders in Brussels.

The contract of gold August delivery gained 53.80 USD or 3.5% to complete transactions at 1604.20 USD per ounce on the Commodity Exchange in New York. The precious metal recorded weekly gain 2% and in monthly strengthened to 2.8%.

For the quarter March - June, however, gold recorded a fall of 4%.

After completing the marathon negotiations in Brussels, European leaders announced that they will allow the use of mechanisms to rescue euro zone to recapitalize their banks to finally break the vicious circle between banking and debt.

At the same time the leaders decided to move to a single supervisory mechanism in which it participates and the European Central Bank taking a central role.

They also agreed to use existing mechanisms for rescue to stabilize the markets of the Member States comply with the recommendations and have complied with their commitments.

Regarding the progress of other metals July silver gained 1.33 USD or 5.1% to 27.58 USD per ounce. For the week the precious metal rose 3.4%, but on a monthly and quarterly basis fell 0.6% and 15% respectively.

Copper has completed transactions in July by jumping 4.9% to 3.49 USD a pound. In week won 5.6% and 3.8% this month. For the quarter, however, recorded a loss of 8.7%.

The July platinum gained 62.70 USD or 4.5% to close at 1449.10 USD per ounce by ending the week with gains of 1%. On a monthly basis rose 2%, while in the quarter fell 12%.

September palladium rose 20.65 USD or 3.7% completing transactions at 584.55 USD per ounce. For the week the precious metal slumped 4%, while monthly lost 5%. In the quarter recorded large losses of 11%.