January 04, 2018
ma
Gold prices rose slightly on the European market on Thursday to try to resume their gains, which were temporarily interrupted yesterday, in the process of correcting and reaping profits, the decline comes with the US dollar falling again against a basket of global currencies, and investors are waiting for two days important data on the labor market , with the aim of re-evaluating the prospects for tightening US monetary policy during the current year.
Gold prices rose by 0.1% to 10:55 GMT to deliberate at the level of $1313.76 of the opening level of $1313.16, registering the highest level of $1314.34, and the lowest level of $1305.89.
Gold prices ended yesterday's low 0.3%, the first loss in nine days, to end the longest daily gains series since February/February 2016, with the correction and making of profits, after the prices were recorded earlier at the highest level in four months $1321.43 for the ounce.
Prices also fell as US dollar levels recovered against a basket of currencies, especially after data showing the growth of the manufacturing sector in the United States during December in December, according to the data of the Supply Institute.
The dollar index fell by about 0.3%, resumed its losses that were temporarily interrupted yesterday, being raised from the lowest level in four months to 91.46 points, which in favour of higher prices for metals and goods denominated in US dollars, making them low cost to consumers of other currencies.
The dollar has slipped again ahead of important data on the US labor market, it will show how much economic growth has improved during the last quarter last year, new evidence will be presented on the continuation of the Federal Reserve in tightening U.S. monetary policy during the current year.
Today, the new jobs in the US private sector are issued during December December, and requests for the weekly unemployment benefit are issued tomorrow Friday new job data in the non-agricultural sector during December, as well as the unemployment rate and the average hourly wage.
Gold holdings in the SPDR Gold Trust, the largest global indicator fund supported by gold, remained unchanged yesterday at a total of 836.32 metric tons, the lowest level since 18 December last December.
