Gold prices have increased during the European trading today, the hearing after recording its lowest level in nine months last week, comes this improvement in gold prices on the back of the US dollar’s slide against a number of other major currencies.
At precisely 10:15 GMT, gold prices surged to reach at $ 1191.95 per ounce from the level of the opening of today’s session at $ 1184.65, it has scored the highest level at $ 1197.47 an ounce, while the lowest level at $ 1182.61.
It stabilized the price of gold at the end of trading on Friday unchanged after scoring its lowest level in nine months in earlier trading, and during last week’s trading price of gold lost about 2.1% for the third week in a row, dating back those losses incurred by the price of gold over the past weeks by bets strong to raise US interest rates in December , and their connection to 100%.
On the other hand, the US dollar continued to decline for the second consecutive day during trading on Monday, the European hearing as part of a correction and profit-taking after it hit a 13 record year and a half earlier in the trade, by increasing the stakes of raising US interest rates during the month of December / December next.
US dollar index fell at the end of trading on Friday, losing about 0.3% for the first day in the last four days of the US dollar to fall within the corrections and profit-taking after hitting a 13 year and a half at 102.11 on Thursday.
Throughout the week the dollar rose index with gains of about 0.1% for the third week in a row, and that due to the increasing expectations by the Reserve Bank to raise interest rates during its meeting in December .
The challenges of raising US interest rates have risen during the month of December to reach 100%, following the issuance of the US economy set of strong economic data private Housing sector, which best performance gave him 10 years ago, in addition to the declaration of the Reserve Bank of the minutes of the last meeting which showed tribute monetary policy makers strong performance of the US economy and approached the targeted bank.
It is expected that the negative impact on the performance of the US dollar continues under a private non-existence of any US data in the economic arena.