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Gold prices on its way to record the second weekly loss

2018-02-09 10:26 am | Resource: NEWS | No Views : 211

Gold futures recorded a decline during the middle of European trading, and the dollar index continues to rise, where gold prices rose during Friday's trading, recording a loss of 0.07% to reach levels of $ 1,318 per ounce, after opening prices today at 1318.17, and recorded The highest level at 1322.67, and the lowest level at 1313.55, approaching again from the lowest level in five weeks recorded earlier in yesterday's trading, and about to incur the second weekly loss in a row.

The gold futures ended yesterday's trading flat without any significant change after recording a five-week low of 1307.02 per ounce. Earlier this week, gold prices so far lost 1.3% and are about to incur a second weekly loss Respectively, as the US dollar index rose as bond yields in the United States rose near a four-year high amid strong expectations that the Federal Reserve will raise interest rates at the March meeting.

The dollar index, which tracks the greenback's performance against a basket of currencies more than 1% since the beginning of the week, the best weekly performance since the week ending 27 October 2017, which put pressure negatively on the prices of metals and commodities denominated in dollars, and on the silver hand, lost came , Down 0.1% to $ 16.43 an ounce after hitting its lowest level since December 22, 2017 at $ 16.22 an ounce on Thursday.

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