Gold prices has backed down before NFP report

On Friday gold prices has backed down in the Europe market to continue its losses for the second day respectively, near the lowest level in eight weeks which has recorded at the last time from the week trading, this backing down came under the pressure of increasing the international debentures profits, and the investors are waiting today for the new jobs data of non-agricultural sector in the United States, searching for a new evidence about tightening the American monetary policy during this year.

 At 9:05 GMT gold prices have backed down to the level 1221.36 USD for ounce from the opening level 1224.84 USD, and record the highest level 1225.73 USD, and the lowest 1219.14 USD.

Gold prices have ended yesterday trading with a decreasing by 0.2%, in a first loss during three days, after the effect of increasing the international debentures profits has overwhelmed on a weakness data about the private sector jobs in the United States during June.

 The international debentures profits have increased for 10 years in a wide range this week, especially under the strong probability of tightening the monetary policy by the international Banks during this year, and the debentures profits in German has jumped to the highest level in 18 months.

The American debentures profits have increased under the probability of continuing the monetary policy tightening by the federal reserve during this year, and increasing the interest prices for the third time, with starting to decreasing the budget which is 4.5 billion dollars of the Treasury bills and financial papers supporting with Mortgages real estate.

At 12:30 GMT an  jobs data of non-agricultural sector will issues and the expectation Leeds to adding 175 thousand new jobs to the American economy during June compared with 138 thousand jobs in May, and the unemployment rate has stabilized at the level 4.3% and that’s the lowest level since 2007, and the income average in one hour will issues too and the expectation is an increase of 0.3% from an increasing by 0.2% in May.

Gold holdings are at the biggest international indexes boxes SPDR Gold Trust which is supported with gold has stalled yesterday without any mentioned change at the total 840.67 metric tons and that’s the lowest level since 10 of the last April.