On Tuesday Gold prices have backed down in the Europe market to continue its losses which have stopped temporary yesterday in a recovery process from the lowest level in four months, this came under the pressure of USD increases against the currencies, adding to the increase of the most international shares markets.
At 9:45 GMT gold prices have backed down to the level 1210.60 USD for ounce from the opening level 1214.11 USD, and record the highest level 1216.06, and the lowest 1209.51 USD.
Gold prices have ended yesterday trading with an increase by 0.2%, in a first gain during three days, because of the recovery process from the lowest level in four months 1204.81 USD for ounce, that has recorded at the last time of trading.
Gold prices have decreased last week by 2.5%, in a second weekly loss respectively, and with a biggest weekly loss since the last April, because increasing the international debentures profits, and twice the investment demand for the metals.
USD index has increased to measure the USD perform against the currencies by 0.2%, to continue the increasing after yesterday breathtaking process, and the USD increases affect negatively on gold prices as it’s supported with USD and it’s cost increasing compared with the other currencies holders.
USD increases came before the Federal Reserve President Janet Yellen witness in front of the Congress, which includes a new evidence about the future of tightening the American monetary policy and increasing the interest prices for the third time during this year.
The most international shares markets have increased for the second session respectively, with refreshing the technology companies shares, at the same time of a business results session launching an expectation about the biggest companies to achieve strong earnings.
Gold holdings are at the biggest international indexes boxes SPDR Gold Trust box which supported with gold has decreased yesterday by 2.96 metric tons, in a second daily decrease respectively, to the total 832.39 metric tons and that’s the lowest level since 30 of March.