November 14, 2017
ma
Gold prices expanded from the European market on Tuesday to record the lowest level in more than a week, under the pressure of rising US bond yields short and long-term, backed by the strong prospects of raising American interest rates mid-next month.
Gold prices fell by 0.4% by 09:55 GMT to be traded at the $1273.20 level of the opening level of $1278.15, registering the highest level of $1278.23, and the lowest level of $1270.00 since 6 November November.
Yesterday's gold prices rose by about 0.2%, within breathtaking operations, after incurring a loss of 0.7% on Friday., with the largest daily loss since 26 October October, by the large leap in American bond yields for 10 years.
The American bond returns are traded for two years near the highest level in nine years, which is in its own language earlier in the day. Monday, the bond yields for the 10-year base period rose to 2.40% near the highest level in seven months.
A survey of the Federal Reserve Bank in New York showed the country's inflation forecast rise in October last October, registering its highest level in six months, it is in favor of signs of a rebound in inflation, in favor of the prospects of raising US interest rates for the third time this year during the middle Next month.
Federal Reserve member Patrick Harker said on Monday that he expected to raise interest rates next month, although he warned bank on the pace of inflation in the country, he stressed that the central bank needed to be prepared for any future economic shock.
In order to reassess the inflation rate in the United States, investors later in the day are expecting producer price data during October, the high rate of such data will confirm the continued recovery of inflation, and the process of raising interest rates in the middle of next month is confirmed.
Gold holdings of the SPDR Gold Trust, the largest global indicator fund supported by gold, increased yesterday by 0.3 metric tons in the first daily increase since 9 October last October to a total of 843.39 metric tonnes.
