Depreciation of the dollar and growth of 15 dollars in the world price of gold

According to the report of Fars International Economic Group, quoted by Reuters, after the American job opportunities report fell in line with expectations of income and the value of the dollar, the price of gold increased by more than 1% in the last working day of global markets, but it was the third consecutive week of decline. due to the pressure caused by the possible increase in the bank interest rate.

An ounce of gold was sold at $1,712.19, an increase of $14.67, but the price of gold fell 1.5% over the past week.

Jim Wyckoff, Senior Analystkitko Metal said: “The report of American job opportunities was very close to the market’s expectations. “The market considers it as a golden number because it did not indicate the weakness of the labor market, but it was not that strong.”

The US Department of Labor announced that US job opportunities in the non-agricultural sector increased by 315,000 jobs last month. Economists had predicted an increase of 300,000 jobs.

The dollar index decreased by about 0.1 percent order, It made gold cheaper for owners of other currencies. The yield on US Treasury bonds also decreased.

Follower Singarianalyst of the instituteCapitalHe said: “The slight weakening of the value of the US dollar and the short-term yield of US Treasury bonds have helped gold recently.”

Gold has been under pressure due to interest rate hikes by central banks around the world to combat rising inflation. A rise in interest rates increases the cost of holding gold as an interest-free asset.

end of Message/