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Gold futures cut some of their losses during US trade

2018-03-12 05:50 pm | Resource: NEWS | No Views : 197

Gold futures have lost some of their losses during the US trade, where gold prices fell by 0.24% to reach levels of 1321 dollars per ounce after recording a low of $ 1315 dollars an ounce and opened today's session at 1324. $ per ounce to the highest level At $ 1325 per ounce.

 Gold prices lost 0.3% last week, marking the second weekly loss in a row. After the US dollar index rose in line with the inverse relationship between them after the announcement of the change in the jobs of sectors other than agriculture, which showed the acceleration of job creation to 313 thousand compared to 239 thousand jobs added in January, contrary to expectations of 205 thousand added jobs.

Despite stronger-than-expected job growth, the unemployment rate was 4.1 percent in February. The unemployment rate was expected to fall to 4.0 percent. The report also said the annual growth rate in average employee earnings per hour fell to 2.6 percent in February from 2.8 percent in January.

On the silver front, silver lost 0.50% to $ 16.52. Silver opened today at $ 16.59 and hit a high of $ 16.63. And the lowest level at $ 16.44 per ounce.

Last Friday's silver prices lost 0.1%, the second consecutive daily loss, on the back of the US dollar's rise. Silver prices fell 0.2% last week, the second weekly loss in a row, on strong odds of raising interest rates Four times this year.

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Time frame Used - four hours Oil is moving in a sideway direction in the near term. Oil is still facing resistance and selling pressure around levels of 52.66 - 54.54. In view of the technical indicators Both the RSI and Stochastic are indicating to weakness of the indicators. Therefore, we expect that the oil will test the level of 50.00 dollar, which by breaking it down will target the…

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