Gold trying to achieve a gain based on the decline US dollar

Relatively high European gold market on Tuesday to try to achieve daily gain after the loss yesterday, taking advantage of the falling US dollar broadly against a basket of major currencies, in conjunction with the expectations of accelerating buy the metal as a safe haven operations under the sell-off, which controls the global equity markets.

Gold trading by at 09:03 GMT, around $ 1185.00 per ounce from the opening level of $ 1183.33, and recorded the highest at $ 1185.25 and the lowest at $ 1180.79.

And the loss of the yellow metal ratio of 0.4 percent yesterday in a third daily loss during the four days after the last positive data in the US showed improvement in the labor market which has increased the expectations of near raising US interest rates.

US dollar

The dollar index, which tracks the greenback’s performance against a basket of major and minor currencies by 0.8 percent, just shy of losing all the gains it had made over three consecutive days down, dollar lower and dropped this year against the pound sterling and the loss ratio of 1.1 percent against the euro, and waits for investors by 16:45 GMT interview with John Williams and the Fed chairman “San Francisco” in search of a new sign of belonging to the timing of raising US interest rates.

Global stock

Futures fell for the S & P 500 by about 0.5 percent and the index fell yesterday on Wall Street rose 0.5 percent amid concerns about the global economic recovery and opened the European stock trading today on the sharp losses in the concerns of the Greek crisis and the wave of selling German bonds, it has come under recent global stock sell-off After Janet’s comments tempered head of the Federal Reserve about the value of the amounts of shares.


Gold holdings at SPDR Gold Trust Fund the world’s largest gold-backed funds indicators yesterday remained unchanged at 728.32 Total metric tons at the lowest level since December last January second.

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