Gold prices rose on Friday, extending its gains for a third day in a row, a new seven-month high, supported by a weaker USD against a basket of currencies ahead of new jobs data in the United States.

Gold prices rose by about 0.2% until at 07:45 GMT to trade at the level of $ 1,295.85 per ounce from the opening level of $ 1,293.84, and recorded the highest level of $ 1,298.54 the highest since June 15, 2018, and the lowest level of $ 1,292.93.

Gold prices added 0.8% on Thursday, the second consecutive daily gain, supported by the fall of the US dollar, and continued strong investment demand for the precious metal as a safe haven.

The dollar index fell 0.1% on Friday, continuing its losses for the second day in a row, reflecting the continued decline of the US currency against a basket of major and minor currencies, which supports the rise in prices of gold and other metals denominated in US dollars.

The continued decline of USD as growing doubts about the possibility of the Federal Reserve continued to tighten monetary policy and raise interest rates, increased doubts yesterday after weak data on the manufacturing sector in the United States during December.

In order to re-evaluate those possibilities await investors later today important data on the labor market in the United States, especially jobs data other than the agricultural sector during the December / December, the weak data will shrink those possibilities and expansion of the US dollar losses against a basket of currencies.

Published by 13:30 GMT jobs data Non-sector agricultural projections indicate as well the US economy 179 thousand new jobs during December / December compared with the addition of 155 thousand jobs in November, with a stable unemployment rate at 3.7%, the lowest rate since In 1969, and average per capita income per hour is expected to rise 0.3% from 0.2% in the previous month.

Gold holdings with the SPDR Gold Trust Fund The largest gold-backed global index funds remained unchanged yesterday at a total of 795.31 metric tons, the highest level since August 1, 2018.