Gold near the $ 1300 per ounce barrier caused by the broad decline of the US dollar

Gold prices rose on the European market on Friday to continue for the seventh day in a row, the highest level in four weeks, near the barrier of $ 1,300 per ounce, due to the decline of the US dollar against most of the world currencies, and gold prices achieved the second annual gain, respectively, thanks to improved levels Investment demand on the metal as a safe haven.

Gold prices rose by 0.2% as of 09:00 GMT to trade at $ 1296.50 per ounce from the opening level of $ 1294.75 and recorded the highest level of $ 1296.92 since November 28 and the lowest level of $ 1293.85.

Gold prices ended yesterday's trading up 0.6%, the sixth daily gain in a row, among the longest daily gain since early October, with most of the metal prices still rising in US dollars.

The dollar index fell 0.3%, extending its losses for a fourth day in a row, reaching a three-month low of 92.10 points as the US currency continued to sell against most currencies, especially after 10-year US bond yields fell.

US 10-year yields fell this week by 5 basis points, and fell 7 basis points on Wednesday, the biggest daily drop in four months, as risk aversion eased in late-year trading.

The US currency fell broadly last week as concerns mounted over the risk of implementing the new US tax law, which lies in the $ 1.5 trillion bill that is expected to boost the country's debt, increase bond issuance, widen the budget deficit, Chances of recovering inflation levels in the country, and thus of opportunities for interest rate increases by the Federal Reserve.

For the year 2017, gold prices have soared 12.5% ​​to reach their second straight annual gain as investment demand for the metal continues to improve as global political tensions escalate, especially those related to the US-North Korea conflict. Apart from Spain, along with political instability in Germany with the difficulty of forming a new coalition government, and continuing conflict in different regions in the Middle East and the Arabian Gulf.

The price of gold also strengthened this year, weakening the pace of US inflation, with the pace away from the targets of central banks in Europe and Japan, which means that these banks continue to stimulate the economy to achieve inflation targets.

Gold holdings in the SPDR Gold Trust Fund The world's largest gold-backed fund was unchanged yesterday for a second consecutive day at a total of 837.5 mt, and holdings so far in 2017 have increased by 3% to 23.63 mt.

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Gold prices close 2017 high of the $ 1,300 barrier with the longest daily gains since 2012

Gold futures rallied during the US session, marking their highest level since October 16, as the US dollar index fell to a 25-month low from September after Sunday.

At 04:04 pm GMT, February 15 delivery, 0.52% to trade at $ 1,304.00 per ounce, compared to the opening at $ 1,297.20 per ounce, amid the decline of the US dollar index by 0.36% to 92.26 levels, Three months from the opening at 92.60.

Financial markets are looking for the Chinese economy, the world's largest metal consumer, and the world's second-largest economy and the second largest industrial nation after the United States to release the Manufacturing & Service PMI for December at 51.6 from 51.8 last November, while The same service indicator may show stability at 54.8, little changed from last month.

Gold futures are achieving the longest daily gains since August 2012, with each year from 2016 to 2015, and in 2014, daily earnings rallies for seven consecutive days, such as Friday The last trading sessions for the calendar year 2017.

As is the case for a trading session in the US stock market. Its worst annual performance since 2007 in 2017.

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Gold expands its gains to the highest level in 4 weeks based on U.S. dollar landings

Gold prices on the European market surged on Wednesday to expand their earnings for the fifth consecutive day, registering the highest level in four weeks, based on the decline of the United States dollar against a basket of global currencies, gold prices tend to record the second annual gain, respectively, with continued improvement in levels Investment demand for metal as a safe haven.

Gold rose by 0.2% until 10:10 GMT to deliberate at the $1285.40 level of the opening level of $1283.24, registering the highest level of $1286.46, and the lowest level of $1281.31.

The gold price ended yesterday's dealings with 0.6% high, in the fourth consecutive day gain, with most of the prices of the Valuation Items rising in US dollars, and over the past week, prices have reached a 1.5 percent rise, the second weekly gain, respectively.

The dollar index dropped 0.3 percent, continuing its losses for the second consecutive day, registering a minimum of four weeks of 92.59 points, reversing the continuing sale The American currency versus a basket of global currencies, which supports gold prices being denominated in dollars and their cost goes down for For other currency holders.

The recent decline in the US currency has been due to mounting concerns about the risks of applying the new tax law in the United States, and that lies the risk in the bill is exorbitant, which is expected to lead to higher debt and increased bond issuance and budget deficits , reducing the chances of recovering inflation levels in the country and thus of increasing interest rates by the Federal Reserve Council.

Over the current year, gold prices have risen by more than 11%, with the second annual gain, respectively, as demand levels continue to improve investment on metal as a safe haven, amid mounting global political tensions, especially those related to the United States-Korea conflict , and the claim of the province of Catalonia to secede from Spain, along with political instability in Germany, with the difficulty of forming a new coalition government, and continuing the conflict in various regions of the Middle East and the Arabian Gulf.

Gold holdings of the SPDR Gold Trust, the world's largest gold-supported indicator fund, increased yesterday by 1.48 metric tons to a total of 837.5 metric tonnes.

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Gold prices rolled out at their lowest levels in five months, indicating their highest levels since the beginning of the month.

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Negative stability of gold prices near their highest levels in two weeks with the dollar index rising for the first time in four sessions

Gold price futures have fluctuated in a narrow, slanted range to retreat to see their rebound from their highest levels since December 5, December the US dollar index for the second session, running at its lowest level since the fifth of December December, according to their inverse relationship following the economic developments and statements that they followed on Thursday from the US economy, the world's largest economy.

At 3:45 pm GMT, futures for gold prices dropped to deliver 15 February February, 0.09 percent for the time being. $1,268.40 as compared to the opening at $1,269.60 of the ounce, amidst the US dollar index rising by 0.09% to 93.40 levels compared Opening at 93.31.

We have followed up on the American economy, revealing the final reading of GDP for the third quarter, which has shown the world's largest economy in 3.2% compared to the previous second reading and Outlook when 3.3% grew, while the final reading of GDP measured At prices stabilize growth at 2.1% without changing the previous second reading and Outlook.

In the same vein, we have also followed the world's largest industrialized nation with the weekly reading of the aid application index, which has shown a high 20,000 requests to 245 thousand requests for 225 thousand requests, other than expectations at 232 thousand requests in conjunction with the detection of the Philadelphia Industrial Index read which showed TS I have a value of 26.2 compared to 22.7 in November last November, other than expectations at 21.5.

This follows hours after the House of Representatives passed the tax bill by 224 votes to 201, and following the Senate approval of the bill by a majority 51 votes to 48, which is the largest tax reform in the United States in 30 years and the dispatch of the Bill of $1.5 Trillion to US president Donald Trump to ratify it.

Gold holdings at the S-P-r Gold Trust fund, the world's largest gold-backed indicator funds, have been on Wednesday, with a total of about 833.02 metric tonnes, the lowest level of gold holdings of the fund since 11 September last September.

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Gold is about to achieve the second weekly gain, respectively, based on the weakening of the US dollar.

Gold prices on the European market rose on Friday to continue to rise for the third straight day, again approaching the highest level in two weeks, the second consecutive weekly gain is about to be realized, based on the weakening of the US dollar against most of the world's currencies.

Gold rose by 0.2% up to 08:32 GMT to deliberate at the level of $1268.22 of the opening level of $1266.23, registering the highest level of $1268.54, and the lowest level of $1264.97.

Yesterday's gold prices ended at 0.1% high, the second daily gain, respectively, and the highest level in two weeks $1268.99 for the ounce, with the US dollar falling.

Over the course of the current week, gold prices have risen by about one percent, about the second weekly gain, respectively, with recovery operations continuing from the lowest level in five months, and by supporting the rise of most of the minerals denominated in United States dollars.

The dollar index spreads near the lowest level in three weeks of 92.74 points, reversing the continuing weakening of the US currency against a basket of global currencies, which is in favor of the rise in US dollar-denominated metals.

The large American currency retreat this week is due to the investors ' assessment of future risks due to the application of the new tax law in the United States, which lies in the exorbitant bill, which is expected to lead to the rise of the country's debt and increased bond issuance and widening of the deficit By balancing, reduces the chances of recovering inflation levels in the country, and thus the chances of increased interest rates by the Federal Reserve Board.

The US Congress on Wednesday formally approved the country's tax reform bill, which includes the biggest reform in 30 year of the U.S. tax law, the bill, worth $1.5 trillion, was sent to President Donald Trump for signature.

Gold holdings at SPDR Gold Trust, the largest global indicator fund supported by gold, remained yesterday with no change for the second consecutive day at a total of 836.02 metric tons, the lowest level since 11 September last September.

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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. .

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