The price of gold is on its way to a weekly loss while reducing the reduction of interest reductions

The price of gold recorded the first consecutive weekly loss this year, as the appetite for the risk to Wall Street returned thanks to the profits of strong technology companies, and traders reduced their bets to lower US interest rates to industrial activity data this year. Gold was unchanged about $ 3240 per gram, which made the losses more than 2%this week, after a report showing the contraction of the US manufacturing activity in April at a slightly higher expectation. The markets have reduced their expectations about the size of the federal cash facilitation road this year, with a quarter of a full percentage point in July. Upper interest rates and revenue tend to print gold that does not benefit. Elsewhere, the attraction of the precious metal as a safe haven has disappeared, as the profits have printed optimism in the markets, along with the possible progress in trade conversations between the United States and other countries. However, the results of the major companies in the technology sector Thursday, such as “Apple” and “Amazon”, confirmed concerns about the future, as both companies expect a more difficult business climate in the coming months due to the escalation of customs costs. The impact of customs duties still evaluates the effects of the agenda for advanced customs duties by US President Donald Trump, who confused the global markets. Vice President GD Vans said that a trade agreement with India would be under “the first agreements, adding that negotiations are also underway with Japan, South Korea and” friends in Europe “. Despite the sharp -selling wave this week, gold increased by about 25% compared to the start of the current year, and it achieved a record of more than $ 3500 last week before it dropped a bit due to the prevalence of indications that the height was exaggerated. This height urged investors to use the metal as a safe haven, amid increasing fear that unconventional policy of the White House could lead to global slowdown. Supporting the request of speculators in China and the purchase of central banks, and traders will take into account the US postal report scheduled for Friday, as the last part of the important data this week. The Instant Gold Price has recorded a slight change and reaches $ 3242.97 per gram at 08:23 p.m. Singapore, and this dropped 2.3% this week. The direct Bloomberg index was set to 0.5% profits in the previous session. Platinum prices were determined, while the price of silver and Albadium rose.