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LONDON (Reuters) - Gold rose back above $1,575 an ounce in Europe onTuesday, tracking gains in the euro as the single currency edgedoff two-year lows against the dollar, but both remain vulnerable tofallout from the euro zone debt crisis. Spot gold was up 0.2 percent at $1,575.16 an ounce at 0915 GMT,while U.S. gold futures for June delivery were up $6.00 an ounce at$1,574.90. Gold is on track to end May some 5 percent below its end-Aprillevel - its worst monthly performance this year - and to declinefor a fourth successive month for the first time since January2000. It has struggled to overcome this month's hefty losses in the euro.Gold reacted positively to stresses in the euro zone in 2011 asinvestors bought the metal as a haven from risk, but it is nowunder pressure from dollar strength. The euro edged up against the dollar on Tuesday as investors cuthefty bearish bets in the currency, but worries about Spain'sbanking sector and Greece's election next month kept it close toits lowest levels in nearly two years. "Gold will be in a critical position at least until the Greekgeneral election taking place on June 17," Peter Fertig, aconsultant at Quantitative Commodity Research, said. "Should there be a majority for a government led by theconservative New Democracy, chances are quite good that gold wouldrebound," he said. "That would also support the euro, it wouldsupport stock markets." European stocks rose initially after a strong session in Asia,where the spotlight fell on the prospect of further policy stimulusin China. Among other assets seen as higher risk, oil and copperprices firmed. .EU MET/L O/R German Bund futures held within sight of record highs as worriesover the cost of shoring up the Spanish banking system spurredstrong demand for safe-haven assets. GVD/EUR PAYROLLS DATA EYED Attention is already shifting towards key U.S. employment data dueFriday, an important barometer for economic recovery. The non-farmpayrolls report is expected to show the world's largest economyadded 150,000 new jobs in May. A shift in focus from European to U.S. economic problems couldprove positive for gold, if it takes some of the heat out of dollarstrength, analysts said. From a technical perspective, gold has found solid support justbelow $1,530 an ounce, but has struggled to breach the $1,600 anounce level. Among other precious metals, silver was up 0.3 percent at $28.48 anounce. The metal has underperformed gold this month, and is ontrack to fall 8 percent, having touched a 2012 low earlier in Mayat $26.73 an ounce. Holdings of silver-backed exchange-traded products fell by nearly25,000 ounces on Monday, Reuters data showed. The metal has struggled to attract significant fresh investmentafter two sharp bouts of volatility last year, most notably when itslid more than 30 percent in just six sessions after hitting recordhighs in April 2011. "Following a sharp correction in the second quarter of 2011, silverremains an attractively priced safe haven commodity relative togold," Morgan Stanley said in a note. "However, silver's well attested volatility, its vulnerability toweakening industrial demand, and weaker supply credentials make ita less fundamentally supported market than gold at present." Spot platinum was up 0.1 percent at $1.432.99 an ounce, while spotpalladium was down 0.2 percent at $600.82 an ounce. The gold/platinum ratio, a measure of the number of platinum ouncesneeded to buy an ounce of gold, held at its highest since Januaryat 1.1. Platinum has maintained its historically unusual discountto gold for much of the last nine months. (Reporting by Jan Harvey. Editing by Jane Merriman). I am an expert from hydropower-turbine.com, while we provides the quality product, such as Pelton Hydro Turbine Manufacturer , China Wind Power Turbine, Francis Hydro Turbine,and more.
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