On Tuesday the gold prices in the Europe market has increased to continue the gains for the fourth day respectively, according to the USD decreasing against the international currencies because the probability of increasing the American interest prices back down during the federal reserve meeting next month, at the same time with fears about the American president Donald Tramp after the reports of the secret information about Russian diplomacy.
At 10:25 GMT the gold prices has increased to 1234.40 USD for ounce from the opening level 1229.85 USD, and record the highest level 1235.38 USD and the lowest level 1229.85 USD.
Yesterday trading has ended the gold prices with an increasing by 0.2% in the third daily gain respectively, after a negative data in the United States observed the shrinking of manufacturing industrial sector in New York during current May.
The USD index has back down by 0.4%, to continue it losses for the third day respectively, recording the lowest level in six months 98.36 point, reversing the continuing of USD sales against the almost currencies, and that is good for increasing the gold prices as it resisted with USD, and it cost decreases against the other currencies holders.
The decreasing of USD comes after the probability of increasing the interest prices backing down from 100% to 70% during the federal reserve meeting in the next June, especially after a data observed an increase less than the average of experts expectation about the American inflation rates during April.
From the other side the fears about the American president Donald Tramp renewed after the reports mentioned his reveal of the sensitive secret information about a senior Russian diplomacy during the overall office meeting last week, and the Tramp consultant management trying to fix the political damage of this reports, last week Tramp has sacked the manager of the federal investigation office James Comey without any preliminaries for that.
The gold holdings are at SPDR Gold Trust box, the biggest international index boxes supporting with gold remained yesterday without any change mentioned and that for the fifth day respectively at the total 851.89 metric tons and that’s the lowest level since 18 of the last April.