Gold rises after two days of losses and attention on US jobs data

Gold rises after two days of losses and attention on US jobs data

Gold rises after two days of losses and attention on US jobs data

Gold prices rose European market on Friday after two days of losses as investors awaited jobs data in the United States to measure the safety of the biggest economic growth path and determine the timing of the Federal Reserve to raise interest rates in the world.

Gold is trading by 0900 GMT around $ 1186.36 per ounce from the time the opening level of $ 1184.53, and recorded the highest at $ 1188.73 and the lowest at $ 1181.79.

And the loss of the yellow metal ratio of 0.6 percent in the second daily loss in a row following the accelerated buy US bonds operations after Janet’s comments tempered governor Fed up value of shares compared to bonds.

US jobs data

Published by 12:30 GMT, the jobs data without the agricultural sector in the United States is forecast to add the largest economy in the world 228 thousand new jobs during April, compared with 126 thousand jobs during March, and for the expected rate of unemployment decline to 5.4% from 5.5% previously .

The Fed is counting too much on the US labor market data and improve before they go on the way toward raising interest rates, showed data released this week reduced the reverse is expected in private sector jobs in the United States during April, while yesterday’s stability jobless claims data showed near its lowest level since 2000, reflecting the variation of the data this week from the labor market, and in the event of an increase of jobs over the past month will be increased expectations of an imminent establishment of the Federal Reserve to raise interest rates during the current year.

SPDR Fund

Gold holdings at SPDR Gold Trust Fund the world’s largest gold-backed funds indices fell yesterday by 2.68 metric tons the largest decline since 27 April to reach total holdings 739.07 metric tons, the lowest level in nearly two weeks.

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