Gold prices increased from the lowest level in seven weeks before US NFP
On Friday The gold prices in the Europe market has increased for the first time for three days, under the increasing processing from the lowest in seven weeks which recorded from yesterday trading, this came before the monthly jobs data issued in the United States, and we expect from it to provide new evidence about the time of increasing the American interest prices during this year, as the prices get increased but it in it way to the third weekly loss respectively.
The gold prices have increased at 9:45 GMT to 1234.95 USD for ounce from the opening level 1227.30 USD, and recorded the highest level 1235.43 USD and the lowest 1226.70 USD.
Gold prices losses by 0.9% yesterday, in the second daily loss respectively, to record the lowest level in seven weeks 1225.60 USD for ounce, because of the slowing of investment demand on the metal as Safa investment.
This week the gold prices have losses by 2.6%, and in its way to the weekly losses respectively because the probability Of increasing the American interest prices in the next June.
This probability increased from 70% to 90% after the statement of monetary policy of the Federal Reserve on the day before yesterday, which decreased the fears about economic growth backing down in the first quarter of this year, and promising to continue gradually increasing the interest prices.
And to the revaluation that probability the investor are waiting today for the new jobs data in the United States in April, adding to the remarks of some Federal Reserve members and on the top of them the council prime Janet Yellen.
At 12:30 GMT the jobs data issued expectation Leeds to adding to the biggest economic in the world 194 thousand new job in April compared with 98 thousand new jobs in march than agriculture sector, and the increasing of unemployment rate from 4.5% to 4.6% and that’s the lowest level since 2007, and the expectation average income of individual in the hour will raise from 0.2% to 0.3% in march
At 15:30 GMT the deputy of federal reserve Stanley Fischer speaks a conference about the rules of the monetary policy in hover academy in Stanford, the council prime Janet Yellen will speak at 17:30 GMT in brown university, at the same time Charles Evans speak a conference at hover academy.
the biggest gold holdings at SPDR Gold Trust box, the biggest boxes of international indexes supporting with gold has decreased yesterday by 0.28 metric tons to the total 853.08 metric tons and that’s the lowest level since 18 of the last April.
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