At exactly 09:43 GMT, gold prices fell to trade an ounce at a price of $1220.74 from the opening price of the trading session at $1223.69, and the highest price per ounce was recorded at $1228.86, while the lowest price was recorded at $1220.20.

Gold prices rose yesterday, at the close of trading on Tuesday, by 0.3%, recording the first daily gain in four days, to rebound from its lowest level in two months at $1218.54 an ounce.

Over the course of last week’s trading, gold prices incurred losses by about 1.1% for the third week in a row, and throughout June’s trading, gold lost about 2.1%, after the Federal Reserve’s decision to raise interest rates for the second time in a row.

During today's trading, the US dollar index rose by more than 0.3%, recording the fourth consecutive daily gain and its highest level in a week, to trade at 96.22 points, which reflects the increase in US dollar buying against other currencies, which constitutes negative pressure on gold and pushes it further down due to The inverse relationship between them being a commodity priced in US dollars.

Today, the US economy will release important data on factory orders for the month of May, and the Federal Reserve will publish the minutes of its last meeting, which was held in the middle of last month, and the meeting ended on raising interest rates by 25 basis points for the second time in a row to range between the level of 1.00%: 1.25%. In its closing statement, the bank indicated that the US economy is growing moderately and the labor market continues to be strong, and that the decline in inflation rates is only a temporary situation.

The bank agreed on the possibility of raising interest rates for the third time in a row during the next six months, and the bank also clarified the details of its plans to reduce its budget, which is currently estimated at about 4.5 trillion dollars.

The gold holdings of the “SPDR Gold Trust” fund, one of the largest gold-denominated funds, stabilized at their levels unchanged, bringing the total holdings at 846.29 metric tons, the lowest since last April 12.

Over the past two years, gold prices witnessed a significant increase, as the price of an ounce recorded its highest price in 2011 at 1923 dollars, while it recorded the lowest price at 1350 dollars per ounce, and according to recent data issued by the World Gold Council, the total gold produced throughout history until In 2016, about 158 thousand tons, which is equivalent to a cube with a side length of 20.2 meters. The data also mentioned that the annual production volume is about 2500 tons, and the central banks in the world have the largest gold reserves against economic conditions.

There are many factors that affect and control the price of gold, so what are those factors?

1. Amount of Central Banks Reserves:

One of the most important factors affecting gold prices is the volume of reserves owned by central banks. When banks increase their purchase of gold, prices rise due to the decreasing supply of gold.

2. Interest rates:

The relationship between interest rates and gold prices is an inverse relationship, when interest rates fall, gold prices rise and vice versa.

3. Economic crises:

Political and economic tensions are one of the important reasons that make investors accept to buy safe havens, led by gold, and thus affect prices to rise.

4. Inflation rates:

Inflation rates refer to the purchasing value of the currency or the volume of goods and services that can be purchased and do not reflect price changes. There is a common factor between interest rates and inflation rates. When inflation rates rise, it is necessary for the Central Bank to raise interest rates.

5. Trade Balance:

When the rates of demand for the purchase of a commodity rise, this means an increase in demand for the purchase of the currency of that country, and this affects the process of trade exchange, which will rise, and on the other hand, when the imports of countries exceed their exports, this affects the trade exchange operations.

At 08:35 GMT, gold prices rose, gaining $3.80, or 0.3%, to reach the price of an ounce at $1250.20, after recording its lowest level in a month and a half at 1236.50 during the last session’s trading due to the rise in global stock indices, which weakened the demand for buying havens. Safe.

At 17:00 GMT, the President of the Federal Reserve, Janet Yellen, will speak at the British Academy in London. .

On the same day, the President of the Reserve Bank of Philadelphia, Patrick Harker, will speak about his economic outlook and international trade at the Center for European Economics and Finance in London.

Several members of the Reserve Bank had stated earlier their support for raising interest rates for the third time, despite the weak economic data, while investors' doubts about the bank's ability to raise interest rates for the third time in a row increased.

On the economic data front, the US economy will release its house price index and other data on consumer confidence later in the day.

As for other precious metals, silver prices rose to gain 6.5 cents, or 0.4%, to reach the price of an ounce at $16.63, after hitting a seven-week low of $16.22.

Platinum also rose by about 0.4% to reach a price of $921.45, while palladium settled at its levels unchanged at $864.05.

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At exactly 10:40 GMT, gold prices traded at $1246.10 an ounce from the opening price of the trading session at $1243.84, and the highest price per ounce was recorded at $1247.67, while the lowest price was recorded at $1242.90, the lowest in seven weeks.

Gold prices closed their trading on Monday, recording a loss of 0.8% for the fourth consecutive day, due to statements made by senior officials at the Federal Reserve.

Yesterday, the President of the Reserve Bank of New York, “William Dudley”, stated that it is not appropriate not to raise interest rates, because this would harm the US economy, and stressed the continuation of the labor sector in its strength and positive direction, which will improve inflation rates that have temporarily declined during the last period.

For his part, the President of the Reserve Bank of Chicago, Charles Evans, said that the current conditions are favorable for the implementation of the cycle of raising interest rates and reducing the balance sheet of the board in a gradual and slow manner.

These statements raised expectations that the Federal Reserve would proceed with its tightening policy and raise interest rates for the third time in a row this year.

It is expected that Vice President of the Reserve Bank, “Stanley Fisher” will make his statements later today, and a number of members of the Reserve Bank will speak at different times this week.

On the other hand, Japanese stocks achieved a sharp rise for the third consecutive day, recording their highest levels in two years, and European stocks continued to rise, while futures contracts for the Standard & Poor's 500 Index rose before the opening of the session, and the index jumped to its highest levels ever.

Gold holdings owned by the “SPDR Gold Trust” fund, one of the largest global gold-backed funds, settled at their levels unchanged for the second day in a row, bringing the total holdings at 853.68 metric tons, the lowest since June 5.

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At exactly 09:40 GMT, gold prices fell to reach the price of an ounce at 1253.82 dollars from the opening price of the trading session at 1256.45 dollars, and the highest price per ounce was recorded at 1256.79 dollars, while the lowest price was recorded at 1252.56 dollars.

At the conclusion of trading yesterday, gold prices settled without any change, trading near its lowest level in three weeks at 1251.89 dollars per ounce, which was recorded earlier in trading, and gold managed to reduce its losses after the decline in the yield on US 10-year bonds.

During today's trading, the US dollar index headed in the bullish direction to achieve gains by more than 0.3%, reclaiming its losses recorded yesterday, to reflect the increase in the US dollar's purchases against other major currencies, which negatively affected the gold levels and forced it to retreat due to the inverse relationship between them.

The US economy is scheduled to release later today, important data for the industrial sector

This is represented by the ADP index to measure new jobs in the private sector for the month of April, in addition to other data on the service sector, which is represented by the sector purchasing managers' index for the month of April.

The Federal Reserve will also issue the decisions of its meeting held since yesterday, at 18:00 GMT, to discuss the appropriate monetary policy for the situation of the US economy, and expectations indicate that the bank will remain on interest rates at their current levels unchanged at 0.75%-1.0%, and investors await details of The monetary policy that the bank will issue to know the future of interest rates during the current year, especially after the bank confirmed the possibility of raising interest rates three times during the current year.

Gold holdings of the “SPDR Gold Trust” fund, one of the largest global gold-backed funds, remained unchanged for the third day in a row, bringing total holdings at 853.36 metric tons, the lowest since April 18.

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At exactly 09:25 GMT, gold prices settled at $ 1246.50 an ounce from the opening price of the trading session at $ 1246.99, and it recorded the highest price per ounce at $ 1248.38, while the lowest price was recorded at $ 1244.18.

Gold prices ended their session yesterday

Reversing gains by about 0.4% in the sixth consecutive daily rise, recording the longest daily wave of gains since mid-January, as it recorded its highest level in three weeks at $1,251.18 per ounce. These large gains made by gold during that period come at the expense of The sharp decline of the US dollar against many other major currencies.

It is scheduled to deliver the principal of the Federal Reserve Bank

Janet Yellen folded an opening speech at the Federal Reserve's Community Development Research Conference in Washington, and Yellen is likely to talk about the future of monetary policy this year and the timing of raising interest rates this year, especially after the bank raised interest rates during its mid-day meeting. This month.

It is noteworthy that “Janet Yellen” confirmed that the Reserve Bank would proceed with the gradual increase in interest rates based on the previously determined schedule, and also said that the bank would bear the effects of a rise in interest rates.

Inflation rates for the target percentage of the bank.

It is expected that the US economy will release data later in the day for the labor sector, which is represented in weekly unemployment benefits, in addition to other data on the housing sector, which is represented by:

in new home sales for the month of February.

Yesterday, the gold holdings of the “SPDR Gold Trust” fund, one of the largest global gold-backed funds, stabilized unchanged, leaving the total holdings at 834.40 metric tons.

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