Gold prices continue to fall amid financial market concerns

Gold prices fell during trading on Thursday for the fifth straight session after recording its lowest level since more than seven months yesterday and in light of concerns in the markets on Greece despite the approval of the Greek parliament on the rescue plan as well as statements unrelenting yesterday.

Traded gold prices at the level of $ 1142.80 an ounce after recording the lowest level in today’s session at $ 1141.90 an ounce, after the session opened today at $ 1146.80 an ounce, comes after gold prices fell yesterday to its lowest level in more than seven months when the level of $ 1132.80 an ounce before closing at $ 1147.40 an ounce.

The current decline in gold levels comes as a result of concerns in the financial markets from entering Greece in the ongoing debt circle after the approval of the Greek parliament on the European rescue plan for the third and accompanying austerity measures.

There is also opposition in parliament from the Party of the current prime minister, which could spell political tensions in the coming period in Greece, something resulting from the approval of the parliament on the austerity measures by the Greek people by refusing to in the last referendum.

On the other hand, the increasing negative pressure on gold prices after the Federal Reserve Bank President Janet Yellin’s statements yesterday before the US Congress during which he pointed to the willingness of the Federal Reserve Bank to raise interest rates this year with the continued stabilization of the situation in the US economy and improve the employment sector.

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