Gold prices fall during the Asian’s session trades on Thursday, despite the decline in dollar’s gains against the major currencies after the meeting of the Federal Reserve Bank, but the waiting for the markets of the US – China summit reduced the demand for gold.
Gold prices are currently trading at level of 1254.7 dollar per ounce, after reaching lowest level of 1253.4 dollar per ounce , and opened today’s session at level of 1258.5 dollar per ounce , recording a highest level of 1258.7 dollar per ounce .
Tensions over the upcoming meeting of the American president and Chinese president are driving the markets to state of waiting for developments, as well as the American’s reports jobs which is issues at the end of the week and prevents the markets from major moves.
While on the other hand, the dollar has begun to reduce its gains against the currencies from the highest level in three weeks after the Federal Reserve meeting minutes , which indicated it intent to reduce the bank’s budget later in the year .
Crude oil prices are trading lower after yesterday’s gains.
Crude oil prices witnessed weak trading during Thursday’s session after rising yesterday to the highest level in a month before gains decline, after the report of the US Energy Agency , which showed the rise of American stocks of crude oil .
US crude future deals are currently trading at level of 50.84 dollar a barrel , after reaching a highest level of 50.97 dollar a barrel , while opening today’s session at level of 50.79 dollar a barrel , and it hit a lowest level of 50.76 dollar a barrel .
The American Energy Agency report showed on unexpected rise in US crude oil stocks during last week , which pushed prices down again as it reflecting the rise US rocky oil production .
On the other hand , the fluctuation in crude oil prices today under the stability of the dollar levels against the major currencies and the markets awaited the meeting of American president and the Chinese president at the end of the week .