By: Mahmoud Gamal
Mubasher: Gold returned to fall on Tuesday after Janet Yellen's, the chair of the Federal Reserve System, statement about that strong job market would boost the dollar.
Spot gold shed 0.09% to $1,139 per ounce by 03:26am GMT.
US gold futures were higher 0.2% to $1,140.85 per ounce.
On Monday, Yellen said, during speaking to University of Baltimore graduates, that US job market is the strongest in nearly a decade, which promote re-raising the interest rate next year.
Gold reached 1,122.35 per ounce on Thursday, which is its weakest level since February, on the back of high dollar after US Fed announced its expectations for increasing interest rate last Wednesday.
Last week, gold retreated more than 2%, marking its first weekly loss in seven weeks.
Gold prices added 0.31% on Monday, amid geopolitical concerns after the murdering of the Russian Ambassador in Ankara, technical analyst, Mohamed Al Ansary, told Mubasher.
He affirmed the negative outlook for gold in the next sessions, noting that hikes may happen to offset some portfolios' losses approaching Christmas.
Translated by: Sara Ghali
