Gold prices rise limited gains

Gold prices rise limited gains 

Gold prices recover some of their gains during European trading on Friday, after it recorded its lowest AVI one week in the previous session due to rising US dollar, and the release of upbeat data on China's economic growth, which boosted demand for the precious metal.

At the COMEX division of the New York Mercantile Exchange, gold futures rose in June delivery rose 0.38% to trade at $ 1.231.10 per ounce .oanhy June contract on Thursday trading session lower by 1.75% to trade at $ 1.266.50 per ounce.

And Alzhl likely to find support at $ 1.224.60 per ounce, the lowest price of gold April 7 since, resistance at $ 1.245.80 per ounce, the highest level for the day Thursday.

The data showed Friday that gross domestic product in China rose at an annual rate of 6.7% in the first quarter, in line with market expectations, after a 6.8% growth rate in the three months amounted to in December.

Another report also showed that industrial production in China rose at an annual rate of 6.8% in the month of March / March, beating expectations for a gain of 5.9%, after rising 5.4% in the previous month.

The positive data eased fears of a slowdown in China's economy in the second-largest gold consumer in the world.

But the precious metals gains remained limited due to the rise in the dollar, which extended gains to hit its highest level over two weeks and a half, which reached its peak on Friday.

Where he settled the dollar index, which measures the dollar's strength against a basket of six major currencies, was at 94.89, slightly less than the highest level reached on Thursday in two weeks and a half at 95.21.

Market participants are awaiting the release of industrial production and consumer confidence reports from the United States scheduled for later in the day in search of further indications of the strength of the economy.

On Thursday, the US Labor Department said in a report that the number of individuals filing for initial jobless benefits fell by 13,000 to a seasonally adjusted up to 253.000 of the total amount of 266.000 last week has changed his number was down from 267.000.

Analysts had expected a rise in jobless claims increased by 3,000 to reach 270,000 last week.

Jobless claims for the first time has traded below the level of 300,000 for 57 weeks, and the Commerce Department said the consumer price index rose by a seasonally adjusted 0.1% from the previous month, compared with economists' expectations "for a 0.2% increase.

The consumer price index rose 0.9% compared to the same month last year, falling short of expectations for an increase of 1.1%.

Elsewhere in metals trading, silver May delivery futures rose 0.01% to trade at $ 16.175 an ounce, while copper May delivery fell 1.11% to hit US $ 2.147 a pound.