Gold prices fall with high yield on Treasury bonds

Washington _ Agencies

Prices for gold-based contracts recorded a new downturn during Thursday's dealings, after the US Treasury bonds rose to its highest level nearly seven years ago, following recent economic data that boosted the prospects for the Federal Reserve (central Bank) of the United States To tighten monetary policy at a faster pace.

It is believed that the reserve Board will raise the interest rate by 25 basis points during December this year, with interest increasing 3 more times during the Period. 2019

Amid fears of mounting trade tensions between the United States and its impact on the global economy, stock markets have declined.

The price of gold in today's dealings declined by US $30, or 0.1% to $60, 1201 for the December Delivery. The gold had slipped yesterday by $10, 000, or 0.3% to $90, $1202 per ounce.

The price of silver declined today by us$080 to 590, 14 dollars per ounce delivery next December. The price of copper declined by 0565 dollars to 7775 billion for the December pound Delivery.

At the level of the economic news, a report by the "a. D. b" Foundation for the Payroll Wizard showed that the number of jobs in the U.S. private sector increased over the September last September with more than Expectations.

The report showed an increase in the number of jobs over the past month, with 230 thousand jobs, up 168 thousand jobs in August last august, according to the revised Data.

Analysts predicted an increase of 185 thousand jobs compared to 163 thousand, according to preliminary data in the previous Month.

A separate report from the US Supply Management Institute noted an unexpected acceleration of the U.S. private Sector's economic activity during September last september, with the non-industrial sector purchasing managers ' index rising over the past month to 61, up from fifty-eight points during August last august, while Analysts expected the index to fall to 58 points.

The coalition government in Italy set the target budget deficit for 2020 at a rate of 1.2 percent of GDP and 1.8 percent in. 2021 at the same time, the government needs to get EU approval for Italy's budget deficit next year to 2.4 percent of the total output Local.

"jerome powell," chairman of the US Federal Reserve at a festival in washington, d.c., said US interest rates are still much lower than the normal rate even after the recent Increases.

In the economic news, the number of applications for unemployment benefits in the United States declined over the week of 29 September last september, slightly more than expectations.

The report of the US Department of Labor said Thursday that the number of applications for an unemployment benefit for the first time in the last week amounted to 207 thousand applications, a decrease of 8,000 requests for the previous week according to the adjusted data, where it was 215 thousand requests, while analysts expected a decrease in the number of applications 213 thousand applications for 214 thousand applications according to preliminary data the previous Week.

meanwhile, US Department of Commerce data released Thursday showed a 2.2 percent rise in industrial demand in the United States last august, which is higher than the forecast, after declining by 0.5 percent in July last july, according to revised Data.

 

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