Gold price rises by more than one percent in the middle of the US dollar index at last week's 2018-03-23 14:34:25 GMT (FX News Today)
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Gold price rises by more than one percent in the middle of the US dollar index at the end of the week
The gold price futures contract rose more than one percent during the US session to see its highest since February 20 February amid the US dollar index slipped according to their inverse relationship following the economic developments and statements that they followed on Friday on the economy The American largest economy in the world, which included a recent member of the Federal Open Market Committee and President of the Federal Reserve Bank of Atlanta, Rafael Post, on economic prospects at the Knoxville Economic Forum.
At 2:15 pm GMT, futures for gold prices increased by the delivery of the next 15th April of April, 1.58 percent, to be traded at $1,354.30. The top is explained in a month compared to the opening at $1,333.20 of the ounce, amid a low US dollar index of 0.31% to levels 89.58 compared to the opening at 89.86.
We have followed up on the US economy. Federal Committee member Rafael Bosrick expressed confidence that the US economy is approaching the targets of the Federal Reserve, explaining that the decision to raise interest this week was logical, adding that if economic conditions evolved as expected, it would support More interest is raised this year amid the fact that there are opportunities to skip inflation the target set by the Federal Commission at two percent.
This came before we witnessed the world's largest economy reading of the sales of durable goods, which accounted for about half of the consumption expenditure, which represented more than two thirds of the output the United States, which showed a rise of 3.1% against a decline of 3.6% in January January, is superior to expectations at a height of 1. 6%, the substantial reading of the same indicator showed a 1.2% rise versus 0.2% decline, also superior to expectations at 0.5%.
In the same vein, we have also continued to disclose the reading of the new home Sales index, which showed a decline of 0.6% at 618 thousand houses in exchange for a decline 4.7% at about 622, 000 houses in January January, other than projections that indicated a 4.6% rise at about 621 thousand homes, comes after hours of US President Donald Trump signed tariffs on Chinese imports estimated at $60 billion, boosted fears about a commercial war, especially with China's response by revealing plans to levy tariffs on US imports worth $3 billion.
The gold holdings were stabilized by the S-P-r Gold Trust, the world's largest gold-backed indicator fund, on Thursday. For the second straight day at a total of 850.54 metric tons, the gold holdings of the Fund have increased in the past year 2017 by about 3%, or about 23.63 tonnes Metric, while gold prices rose 13% in their second annual increase during 2017.