On Tuesday Gold prices has backed down in the European market, extending its losses for the third day in a row, recording the lowest level in two weeks, as investment demand for the metal fell as a safe haven, within increasing risks in the financial markets will increase, the worries about Hurricane Erma in the United has receding, and the global spy tensions about North Korea has backed down.
At 9:45 GMT Gold prices have backed down to the level 1325.05 USD for ounce from the opening level 1327.17 USD, and record the highest level 1329.20 USD, and the lowest since the first of current September 1323.28 USD.
Gold prices have losses yesterday by 1.5%, in second daily losses respectively, and with the biggest daily losses since last July, because of USD recovery, and most international debentures and shares markets increased.
Risking with high-profit assets, international debentures and shares market have increased, the worries about Hurricane Erma in the United has receded, and the global spy tensions about North Korea has backed down.
In the United States, Hurricane Erma has weakened into a tropical storm. The cyclone has suffered less damage than expected in Florida, and the US economy will not be affected by the hurricane, unlike Hurricane Harvey, which has lost nearly 200 billion USD.
After North Korea abstained from launching more missiles over the weekend, the UN Security Council yesterday approved a US proposal for softened sanctions in response to its latest missile and nuclear tests, excluding the oil embargo or the freezing of funds by Kim Jong-un.
Yesterday the American shares have achieved strong gains because of the insurance and Banks, and standard and Poor’s index has closed 500 at the high measured level, and the contracts for the index has increased to the highest level ever before opening the official trading session on Wall Street.
Gold holdings at the SPDR Gold Trust Box which is the biggest international indexes boxes which support with gold have increased yesterday by 1.18 metric tons, in a first increase during four days, to the total 835.68 metric tons.