December 25, 2017
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The gold price futures contract fluctuated in a narrow range, declining to rebound from its lowest level since July 20 July for the 7th session in nine sessions with the highest levels since December 5, the US dollar index has been on the rise for the first time. In five sessions according to their inverse relationship following the economic developments and statements that they followed on Friday on the US economy and on the threshold of revealing the data of the housing market and the US consumer confidence.
At 3:59 pm GMT, futures for gold prices rose 15 February Feb. 0.27% for current trading at $1,274.40 for the ounce compared to the opening at $1,270.60 of the ounce, while the US dollar index increased by 0.17% to 93.44 levels Compared to the opening at 93.28.
We have followed the American economy with a reading of the durable goods Sales index, which accounts for about half of the consumption expenditure, which represents more than two thirds of the output of the United States, which showed a 1.3 percent rise compared to 0.8 percent in October last October, without expectations that For a 2.1% rise, while the basic reading of the index itself showed a decline of 0.1% against a rise of 0.9%, other than the projections that the growth rate slowed to 0.5%.
This came at the same time as the disclosure of personal income and expenditure data, which showed the acceleration of personal spending growth to 0.6% versus 0.2% in October October, which is based on expectations at 0.5%, while reading personal income has shown slower growth to 0.3% compared to previous reading and Outlook At 0.4%.
While reading the index of personal consumption expenditure, which showed an acceleration of growth to 0.1%, compared to 0.3% below expectations at 0.3% and the reading of the basic personal consumption expenditure index has slowed the growth rate to 0.1% in line with expectations versus 0.1% in October October, while showing The annual reading of the index itself accelerates growth to 1.5% in line with expectations compared to 1.4% in the previous annual reading.
Financial markets are now looking closely to the issuance of home sales reading for the month of November November, which may reflect a decline of 5.1% to about 654 thousand compared to 6.2% rise at about 685 thousand in October in October coinciding with the final reading of the Michigan University's index of confidence Consumers for the month of December December that may show a rise to 97.1 compared to the previous initial reading at 96.8 and 98.5 in November November.
This comes hours after US President Donald Trump urged Congress, controlled by his Republican Party, to approve a short-term bill on government spending to avoid what is known as government shutdown by the time the government funding stopped in the evening, in order to allow the US government To continue its work, following the passage of the bill by Congress and the dispatch of the bill worth $1.5 trillion to trump for ratification.
The gold holdings of the S-P-r Gold Trust fund, the world's largest gold-backed indicator funds, remained Thursday, the second consecutive day, with a total of about 836.02 metric tonnes, is the lowest level of gold holdings of the fund since 11 September last September. .
