Gold prices has jumped to the highest level in two weeks


On Tuesday  gold prices has jumped in the Europe market to the highest level in two weeks, to continue its increasing for the third day respectively, according to the USD increasing against the currencies, at the same time with improving the investment demand levels on the Safe haven metal as a result of continuing fears about increasing tensions between the US and North Korea.

 

Gold prices have increased by 0.5% till 9:59 GMT to trade at the level 1289.88$ for ounce from the opening level 1283.98$, and record the highest level since 27 of September 1291.53$, and the lowest level 1282.08$.

 

Gold prices have achieved yesterday an increasing by 0.6%, in a second daily gain respectively, because increasing the most metals which are supported with the USD, at the same time of accelerating demand for the Safe haven assets.

 

The USD index by 0.5%, to continue its losses for the third day respectively, recording the lowest level in on week 93.06 points, reflecting the continuing of decreasing the USD against the currencies, and that’s in the gold prices side because it supported with gold, and its costs decrease for the other currencies holdings.

 

The USD backing down comes after the strong probability of increasing the interest prices in December by the federal reserve, and this probability achieved to 90% from 75% after the American work market data on Friday, which observed the highest increasing within one year and a half in the salaries average.

 

From the other side on Monday Russia and China has invited Boeing system to self-control, after the American president Donald Tramp has warned about dealing military with North Korea after it insisting on continuing its rockets and nuclear tests.

 

Gold holdings are in the biggest international indexes boxes SPDR Gold Trust box which is supported with gold has increased yesterday by 4.43 metric tons in a second daily increase respectively to the total 858.45 metric tons, and that’s the highest level of holdings in two weeks