Gold rose on Friday for the second day in a row as a result receding fears that the U.S. Federal Reserve to reduce and withdraw the monetary stimulus after weak data from the largest economy in the world, this and dropped the U.S. currency for a second day to settle near its lowest level in a month, and Asian stocks fell, led by Japanese stocks which fell sharply to its lowest level in three weeks.
Achieved gold on Thursday rise by 0.9 percent, recovering from its lowest level in three days 1308.82 dollars per ounce as a result weak data from the U.S. economy showed higher jobless claims weekly amount by 7000 a request to come level of 343 000, worse than the previous reading of 336 000 after adjusted from 334 thousand, worse than expectations that referred to 339 thousand.
Bernanke has linked last week in testimony before Congress plans to reduce and withdraw the extent of monetary stimulus program improved economic data.
Dollar index which measures the performance of the greenback on Friday for a second day to settle near the lowest level in the month of 81.70 points recorded yesterday’s session, while landed Asian stocks بقياد the the Japanese market, which fell sharply against the backdrop of the rise of the yen and weak results for companies.
The Nikkei lost 432.95 points to close at 14129.98 points after scoring during the meeting 14114.52 points, its lowest level since the eighth of July, the index fell 3.2 percent on the week after a series of gains that lasted five weeks.
He lost the broader Topix index 2.9 percent to close at 1167.06 points as investors deliberately to profit-taking before the peak of the corporate results season.
On the other hand, the World Gold Council said on Thursday that demand for gold in China has hit a record high up to 1,000 tonnes this year, which means that China will exceed India’s largest consumer of the precious metal in the world.
Marcus said Executive Director of the pod Investment Council that Chinese demand for gold in 2013 is likely to be in the range from 950 tonnes to 1,000 tonnes but the risks tend to bullish demand may pay to exceed the upper limit of that range.
Pod said, “China will probably be the largest consumer of gold in the world this year for the first time on a yearly basis, so Christrkh demand from the jewelery industry and investment demand both.”
Precious metal gold is trading at 07:54 GMT, GMT around $ 1335.36 an ounce after recording the highest price of $ 1340.36 and a low price of $ 1332.33.
