Gold is retreating amid awaited to more clarity on America’s commercial policy

Gold prices fell on Thursday, amid the rise of the dollar and the anticipation of investors due to more clarity on the commercial policy between America and its partners and their aspiration to decide the non -agricultural jobs scheduled for this week.

The precious metal fell 2% during the immediate transactions to 3224.22 dollars an ounce by 03:00 GMT, and futures fell 1.4% to 3273.70 dollars, while the dollar index, which measures the performance of the US currency against a basket of currencies 0.2%, made the gold less attractive for other currencies.

American commercial actor Jimson Jarir said yesterday, Wednesday, that the administration of President Donald Trump expects to conclude preliminary customs duties with some commercial partners within weeks, but there are no official talks with China.

Meanwhile, the US economy shrinkage data showed in the first quarter for the first time in 3 years, with companies rushing to import goods before the Trump administration imposed customs duties.

The market is now awaiting the non -agricultural job report that will be issued tomorrow, Friday, to obtain more indicators on the path of monetary policy that the US Central Bank will adopt, and the report is expected to show a slowdown in employment without a change in the unemployment rate of 4.2%.

The stock markets, bonds, foreign currencies and futures for commodities will be closed in China from 1 to 5 May this year on the occasion of the Chinese Labor Day, and for other precious metals, silver in instant transactions increased 0.1% to 32.63 dollars an ounce, and platinum fell 0.1% to 965.32 dollars, and palladium rose 0.1% to 938.85 dollars.