The stability of gold prices against the rise in the dollar

Gold prices stabilized today, Friday, and heading for a weekly loss in light of the rise in the dollar in the wake of US President Donald Trump imposing new customs duties on dozens of countries, at a time when customers are awaiting non -agricultural job data that are scheduled to be issued later in the day.

Gold settled in instant transactions at $ 3289.79 an ounce by 01:27 GMT.

Prices have declined 1.4 percent since the beginning of the week until now.

US gold futures fell 0.3 percent to $ 3340.20.

The dollar index rose 0.1 percent to hover near the highest level in two months, which it recorded on Thursday, making gold more expensive for other currencies.

Trump signed an executive order, with the imposition of “counter” customs duties ranging from 10 and 41 percent on imports from dozens of countries and regions.

Asian stocks decreased today, after the United States imposed a high customs duties on dozens of its commercial partners.

The focus is now turning into US job data scheduled to be released later in the day to obtain more indicators on the path that the Federal Reserve (the US Central Bank) may be pursued on interest rates after the bank kept the interest unchanged earlier this week.

Gold usually rises in low interest rate conditions because it is an origin that does not generate returns.

As for other precious metals, silver settled in instant transactions at $ 37.10 an ounce, platinum fell 0.3 percent to $ 1308.85, and palladium rose 0.9 percent to $ 1216.25.