November 10, 2017
ma
Gold trading at the Asian meeting on Friday stabilized near the highest level of its record in three weeks during the trading yesterday, this recovery in gold prices comes from a decline in dollar levels as well as high demand for safe havens.
The US dollar slipped against major currencies and scored its lowest level in a week according to the dollar index that scored the lowest level at 94.43.
The decline in dollar levels came after the rise in the number of U.S. unemployment benefit requests with higher expectations over the past week, which was released yesterday and caused a decline in dollar levels.
On the other hand, the US Senate has asked to postpone discussion of the US Tax Cut Act until 2019, which has weakened demand for risk and a return to safe haven.
Gold prices are currently traded at the level of $1286.0 for the ounce, after registering the lowest level at $1285.6 for the ounce. The meeting today opened at the level of $1286.5 per ounce, registering the highest level at $1287.49 per ounce.
