Gold prices turn to the seventh weekly profits in a row, with the addition of the US government a new layer of vague before investors looking for indicators during the financial facilitation of the Federal Reserve. The precious metal remained stable near $ 3.860 per ounce, after it ended Thursday’s trading on a slight decline, to the gains of profits that followed a five -day increase that pushed prices to a record level during the session. The rapid increase has made gold vulnerable to declines, as technical indicators show that it has been trading in an area of purchase saturation for almost a month. The absence of work data increases with the postponement of the publication of the US job report scheduled for Friday due to government closure, investors have relied on private data to obtain decisive indicators on already mysterious economic prospects. The data of the company “Challenger, Gray & Crisames” showed on Thursday that employers in the United States reduced job plans in September and announced less discharge. The absence of data will make it difficult for monetary policymakers to read the direction of the economy, according to Austin Golsby, head of the Federal Reserve Bank in Chicago. Also read: “Goldman Sachs” expects to continue the rise of gold by supporting investment in the private sector, betting on interest, money markets are still fully confused at the end of the month by a quarter of a percentage point, with extensive expectations of another reduction in December. Usually, precious metals, which do not return, usually benefit from the low borrowing costs. Gold has jumped by more than 45% since the beginning of the year in a successive wave of rise that has crushed record levels to be on their way to the largest annual profits since 1979. The metal received support from the purchases of central banks and increased the possession of the golden boxes, with the federal resumption to lower interest rates. Immediate gold rose 0.1% to $ 3,860.70 per gram at 08:12 in Singapore, or about $ 35 without peak Thursday. As for the “Bloomberg” index of the immediate dollar, it established it unchanged. Silver fell 0.2% to $ 46,9007 per gram after it exceeded the $ 48 level on Thursday before the profits shrank. While platinum remained stable while palladium rose.
Gold prices are on the way to record profits for the seventh week
