Gold recorded strong declines in the middle of the European session trading today, Thursday, January 6, to lose the levels of 1800 dollars per ounce, down by 0.80%, and is trading at 1795 dollars per ounce, affected by the strong rise in the yield on US Treasury bonds to its highest level in eight months and the rise of the US dollar.

And the US Federal Reserve’s minutes issued yesterday, Wednesday, put pressure on the yellow metal, after it showed a more clear and rapid tightening of monetary policy in the coming period, raising market expectations regarding the first date to raise interest rates at the next March meeting by more than 70%, in addition to the bank members’ desire to reduce the size of the balance sheet immediately after The first rate hike.

The yellow metal interacts with the tightening of monetary policy from the United States of America, ignoring the Omicron mutator, which is spreading strongly in the world and setting record levels.

The yield on US Treasury bonds during ten years is trading today at an increase of about 2% at 1.737, the highest level since April of last year, to pressure the movements of gold while supporting the US dollar at the same time, as it will raise the opportunity cost of acquiring gold.

The markets are awaiting during the American session tomorrow, Friday, the data of the American labor market NFP, which will reflect the extent to which the American labor market is close to achieving the Fed’s target, and therefore the market expectations of raising interest rates in March will increase more and negatively press on the metal prices.

Today, Thursday, the focus in the US session will be on the ISM services PMI, in addition to the weekly unemployment rate. Silver, in turn, is losing about 2.25% and is trading at levels of $22.22 an ounce, heading to record the first bottom for the current year.

Platinum is declining by about 1.28% and is trading at levels of $969, while palladium is rising by about 1.60% and is trading at levels of $1894.