Gold reached the highest level of three-week


Gold prices, with the safe-haven purchases and weak dollar, reached its highest level in over three weeks. Spot gold rose 0.8 percent to $ 1,266 per ounce. Prices have seen their highest level since May 1. Also, metal gained 0.8 percent this week.

According to the analysts, the dollar and interest rates’ starting the day with lower level while there was a slight deterioration in the investment expectations, which served to both yen and gold.

On the other hand, investors are expecting US non-farm payrolls to confirm the interest rate increase in June. Employment and inflation data of the US are not expected to block the Fed’s decision to raise interest rates next month. The US non-farm employment data will be released next week on Friday and the Fed will meet in mid-June.

Another improvement happened in the level of spot silver. Spot silver rose 0.8 percent to 17,316 dollars per ounce and reached its highest level in a month. Platinum rose 1.1 percent and palladium 0.7 percent.

US stocks did not change much as they watched the index close to record levels after earning 6 consecutive days of gains. The technology companies that hit the rally in the recent days on the market were watching horizontally. Video game companies have fallen as GameStop’s estimates disappointed Wall Street.

The Stoxx Europe 600 Index was down 0.5% with a 1.2% drop in oil and natural gas producers.

Standard & Poor’s 500 (S & P 500) index futures contracts fell below 0.1 percent.

In Japan, the Topix Index fell 0.6% and the weekly gain was reduced to 0.6%. In Australia, the S & P / ASX 200 Index fell 0.7 percent with 2 percent drop in BHP Billiton Ltd.

South Korea’s Kospi Index rose 0.5% and reached record level again. The index made the biggest weekly gain of two months with 2 percent this week.

In Hong Kong, the Hang Seng Index has not changed and has gained 1.8% per week. In China, the Shanghai Composite Index rose 0.1 percent.

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