03:45
حنين الحياة
Gold prices fell on Thursday after they reached the highest level in 11 weeks at the previous session by sales for technical reasons and profit, although concerns about a possible US military action against Syria supported precious metals.
By 0704 GMT, gold in simultaneous transactions dropped 0.2 percent to 1350.59 dollars per ounce after four consecutive sessions of gains.
Gold in American futures contracts went down 0.4 percent to 1354.10 dollars a ounce.
The yellow metal touched the level of 1365.23 dollars for an ounce at the previous session, the highest since Jan. 25 January before its gains were reduced by expectations acceleration of the pace of U.S. interest rate increases after publication of the minutes of the most recent meeting of the Monetary Policy Committee of the Federal Reserve Board (central bank of America).
Gold is usually used as a store of value in times of fiscal and political uncertainty.
President Donald Trump warned Russia on Wednesday of an imminent military move in Syria in retaliation for an alleged poisonous gas attack, declaring the Rockets "coming" and criticizing Moscow for backing Syrian President Bashar al-Assad.
Precious metals have also received support from ongoing fears of a trade war between the United States and China.
The Chinese Ministry of Commerce said on Thursday that China would not hesitate to react if the United States stepped up its trade dispute with Beijing, stressing that President Shi-ping's pledge to cut import duties was not a concession to the United States.
Among other precious metals, silver rose 0.2 percent in instant dealings to 16.66 dollars a ounce.
Platinum increased by 0.2 percent to 928.20 dollars a ounce, while palladium dropped 0.6 percent to $959 per ounce.
The Palladium rose more than six percent this week with the support of fears that Russia's supply, the largest producer of metal, would be adversely affected by the sanctions imposed on it by the United States.
(Prepared by Mu'taz Mohammed for the Arab newsletter-Liberation of Abdel Moneim Daar)
