Gold prices rose back above $1,565 an ounce on Friday, snapping four sessions of losses and temporarily decoupling from the euro, as investors saw the precious metal's current price as a buying opportunity after its recent fall. Spot gold was up 0.5% at $1,565.61 an ounce at 1338 GMT, having fallen towards $1,530 earlier this week as worries that Greece could exit the euro zone hurt the euro and boosted interest in the dollar as a haven from risk. Gold remains on track for a 1.9% loss this week. The $1,540 level held intact yet again earlier this week, and even though there is no overwhelming physical support, or indeed investor interest, these levels are starting to look attractive, with some modest buying on the lows. Worries over the euro zone's financial health have plagued the single currency this year. Concerns about Greece leaving the euro zone prompted macro funds, real money and institutional investors to ramp up selling of the currency this week after an inconclusive election left the country at risk of bankruptcy. Such fears were instrumental in sending gold to a record high last year, but since January it has tended to react negatively to bad news from the euro zone, as investors turn to the dollar, Treasuries and German bunds as alternative havens.
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