Higher gold prices despite the stronger US dollar

Higher gold prices despite the stronger US dollar

Gold prices rose in today's trading Monday, with the last trading sessions of the month, this comes despite the high levels of the dollar against major currencies, but gold found support which helped him to rise early this week.

Gold prices are currently trading at $ 1234.70 an ounce, after recording its highest level today at $ 135.80 an ounce and the session was opened today at $ 1221.10 an ounce.

The current rise in the levels of gold prices comes under the support that he got the precious metal from lower European stock indexes and the continued decline in the Chinese stock indices, which increased demand for the safe haven of gold at the expense of investment in the stock markets.

On the other hand, we find that the constant fluctuation in gold's performance in light of the continued high levels of the dollar against major currencies which limits the rise in gold prices in the short term and driven to move in the direction of accidental.

The US dollar managed to rise during the past two weeks against a basket of major currencies, and in light of the improved outlook for the US economy to improve economic data published from the US economy account.

The dollar index, which tracks the dollar's performance against a basket of major currencies saw a rise today to its highest level in three weeks to its highest level at 98.35 and was today's session was opened at the level of 98.15 to currently trade at the level of 98.22, while it has fallen to its lowest level at 98.15.

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Weak trading of crude oil after two sessions of gains

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Gold fell levels with the US growth data improvement

Gold fell levels with the US growth data improvement

Gold saw a decline during Friday's trading, after rising tried the beginning of the day comes after the improvement of growth data from the US economy which has increased the demand for the dollar and pushed him to the negative impact on gold levels.

Gold prices are currently trading down to the lowest level at $ 1226.30 an ounce and was today's session opened at $ 1233.40 an ounce, while has risen to its highest level at $ 1240.20 an ounce. This comes after gold prices rose this week at $ 1253.10 an ounce, the highest level since the week.

Gold fell levels comes after the US economy, announced the recovery rates of growth during the fourth quarter of 2015, higher than expected, which indicates the stability of the situation in the US economy with growing expectations that growth is on the way to improvement this year.

Support the growth came from business inventories and forecasts indicate that the household sector has achieved a surplus of lower crude oil and energy prices, which may increase especially in light of improvement in the employment sector levels in the United States spending.

The US dollar managed to rise against a basket of major currencies in today's trading after it found support from improved US data, the results in the activation of the inverse relationship between gold and the dollar.

The dollar index, which tracks the dollar's performance against a basket of major currencies witnessed a rise in the day, its highest level at 97.88 after it opened today's session at the level of 97.44 to currently trade at 97.82 while the level has dropped to its lowest level of the day at 97.09.

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