Gold rises for the second consecutive day and attention to the Federal Reserve record

Gold prices in the European market rose on Thursday to continue their gains for the second consecutive day, supporting the US dollar fall against a basket of currencies, affected by the comments of Jerome Powell, head of the Federal Reserve, and to reassess those comments and their impact awaits investors later today Minutes of the last meeting of the Federal Reserve.

Gold prices rose by about 0.5% until 10:34 GMT to trade at a level of $1,226.12 per ounce from the opening level of 1, 220.40 $, and recorded the highest level of $1,227.37, the lowest level of $1,220.40.

Yesterday's gold prices rose 0.5%, at the first gain in four days, as part of the recovery operations from the lowest level in two weeks at $1,211.91 per ounce, and supported the US dollar downward following the comments of Jerome Powell.

The dollar index fell by 0.2% on Thursday, continuing its losses for the second consecutive day, reflecting the continued decline of the U.S. currency against most major and secondary currencies, which currently supports higher prices for gold and other metals priced in US dollars.

Jerome Powell, chairman of the reserve Board of the New York Economic Club, said, "American interest rates are a little less neutral," and investors interpreted these statements as the US interest rate hike is nearing its end, with Jerome's comments as a departure from his previous opinion last month Interest rates at the current scale are far from neutral.

In order to reassess these comments and their impact, investors await by 19:00 GMT the minutes of the last meeting of the Federal Reserve, which was held on 7-8 November November, and resulted in the maintenance of fixed interest rates at 2.25%, if the details To conform to Jerome's comments, it is expected that the U.S. currency will continue to fall and the rise of gold and other metals.

Gold holdings in the SPDR Gold Trust Fund, the largest gold-backed global indicator funds, remained unchanged yesterday for the second consecutive day for the total to continue at 761.74 metric tons.

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Consecutive gold price rebound from its lowest in two weeks with the negative stability of the US dollar index

The futures of gold prices fluctuated in a narrow, upward-sloping range during the Asian session to see their reversal of the 3rd meeting of the lowest since the 15th of November amid the fall of the US dollar index for the third consecutive session from the top of it since the 13th of this month according to the relationship Following the economic developments and data they followed on Friday from the Chinese economy to the world's largest consumer of metals and on the cusp of economic developments and data expected by the US economy, the world's largest economy.

At 5:11 am GMT the futures of gold prices rose 15 February next February 0.01% for trading currently at $1,230.50 per ounce shown consecutive rebound from its lowest in two weeks compared with the opening at $1,230.40 per ounce, amid the decline of the dollar index The American 0.01% to 96.77 levels shown successively apostasy from the top to him in two weeks compared to the opening at 96.78.

We have followed up on the Chinese economy, the second largest economy in the world, and the second largest industrialized country, the readings of the two indices of industrial and service procurement by the China Logistics and Procurement Association (CFLP), which reported a shrinking industrial sector to a value of 50.0 compared to previous reading For October last month and expectations at 50.2, the expansion of the service sector shrank to 53.4 versus 53.9, below the forecast at 53.8.

At the other level, investors are currently awaiting the outcome of the participation of the Federal Open Market Committee member and president of the Federal Reserve Bank of New York John Williams in a panel discussion titled "The Global Economy: Addressing the future slowdown" at the 80th plenary session of the Group of 30, This is before the discovery of the Chicago index of purchasing managers, which could reflect a widening to 58.6 versus 36.3 in October last October.

This comes after hours of the Fed's disclosure on Thursday of the minutes of the Federal Open Market Committee meeting held on November 7 and 8, which reported that there was a close increase in interest rates on federal funds and that policy makers Cash at the Federal Reserve has discussed the date of halting the future short-term benchmark interest rates.

After Federal Reserve Governor Jerome Powell expressed last Wednesday at the New York State Economic Club, under the title "Federal Reserve Framework for financial stability control," the interest on federal funds was "slightly less than" neutral, which was Market pricing as a possible moderation in the pace of monetary policy tightening by the Fed's monetary policy makers.

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Gold is about to achieve the second consecutive monthly gain

Gold prices in the European market stabilized on Friday within a limited range of dealings, with investors reluctant to build new centers in anticipation of the outcomes of the G20 summit in Argentina, but prices are moving to a second monthly gain, respectively.

Gold prices are traded by 8:15 GMT around the level of $1,223.55 per ounce from the opening level $1,223.97, recorded at the highest level of $1,225.55, and the lowest level is $1,222.97.

Yesterday's gold prices rose by 0.25%, in the second consecutive daily gain, and scored the highest in two weeks at $1,229 per ounce, supporting the US dollar retreat against a basket of world currencies.

The group of 20 (G20) summit meetings will be held today in Buenos Aires, Argentina, to discuss recent developments in the global economy, where the group is currently focusing on resolving global trade disputes, as US president Donald Trump is expected to discuss with his Chinese counterpart Shi Jinping, the solution of the Enza Trade among the world's largest economists.

Over the month of November, gold prices have so far risen by 0.75%, about to achieve the second consecutive monthly gain, after a relative improvement in the purchases of safe havens after a sharp fall in global equities, and by supporting a decline in U.S. interest rate increases more than once For next year especially after the recent remarks of Jerome Powell, the head of the Federal Reserve.

"American interest rates are a bit less neutral," said Jerome Powell at the Economic Club in New York on Wednesday, and investors explained that the US interest rate hike was nearing its end, with Jerome's comments as a departure from his previous opinion last month that prices  Interest in the current domain is far from neutral.

Gold holdings in the SPDR Gold Trust Fund, the world's largest gold-backed indicator funds, remained unchanged yesterday for the third consecutive day for the total to continue at 761.74 metric tons.

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The futures of gold declined during the European course

According to the Comex classification of the New York Mercantile Exchange, the futures of gold were trading in December at USD1219.80 per ounce at the time of writing, decreasing by 0.52%.

I have been trading in advance for a usd1218.60 reduction session per ounce. Gold may find support points on usd1218.60 and resistance to usd1233.80.

Dollar index contracts, which measure U.S. currency performance against a basket of six other major currencies, rose by 0.19% for trading on usd96.73.

At the same time on Comex, the silver price for December fell by 1.43% to be traded on usd14.320 per ounce while the December copper price fell by 1.39% to be traded on pound usd2.699.

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Gold falls to the lowest level in a month after Central America confirmed its position of interest

Gold dropped more than one percent to its lowest level in the month of Friday as the US dollar rose after the Federal Reserve (US central bank) confirmed its stance on tightening monetary policy, which negatively affects the precious metal that generates no returns.

The US central bank kept the interest rates unchanged on Thursday, but it is widely expected that they will be lifted in December December, for the fourth time this year, while pointing to the strength of the economy, which has only seen a decline in the growth of corporate investment.

By 1830 GMT, gold in spot transactions dropped 1.3 percent to 1207.78 dollars an ounce, after having touched its lowest level since October 11 October 1206.13 dollars an ounce.

The yellow metal tends to end the week on a two percent drop, the biggest weekly drop since the week ending August 17 August.

In U.S. futures contracts, gold went down 16.5 dollars or 1.35 percent to reach a settlement of 1208.60 dollars an ounce.

The dollar index, which measures the performance of the U.S. currency in front of a basket of six major currencies, has risen to its highest level in 16 months, which it recorded on Oct. 31 October.

Among other precious metals, silver dropped about 1.7 percent in spot transactions to 14.16 dollars an ounce, after touching the lowest level since Sept. 18 September. The metal is geared towards registering the weakest weekly performance since February February.

Platinum fell 1.3 percent to 853.30 dollars an ounce, while palladium fell about 0.7 percent to $1116 per ounce.

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