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Ukrainian-Russian talks affect gold prices, stocks closed higher

After the peace talks between the Russian and Ukrainian parties, European and American stock indices rose yesterday, as the Russian delegation in the capital Istanbul announced that the talks between the two parties are constructive and useful.

As a result of this, the European and American stocks pushed higher with risk, as the euro jumped sharply and rose more than 150 points against its American counterpart, while the benchmark Stoxx Europe 600 indices rose 1.6%, the British FTSE rose 0.9%, and the German DAX rose by 2.7%.

The Industrial Average US Dow Jones rose 1% in conjunction with the Nasdaq, which jumped above 14,600 levels, up by 1.7%.

Gold fell below the levels of 1900 dollars per ounce and is now trading near 1924 dollars, and investors remain cautious despite the optimism in the peace talks between Russia and Ukraine.

As far as optimism about positive talks, there are doubts about the real Russian intentions, and that talk about reducing their operations in the vicinity of the capital Kyiv may be a trap and a mere trick to disperse the Ukrainian forces, and this prompted a bounce in gold from the main support levels of $1890, which represent the simple average levels of 50 days.

This Friday, investors will be watching US job numbers, as the US economy is expected to add 485,000 jobs in March, down from the previous month’s 678,000 jobs. The unemployment rate is also expected to drop from 3.8% to 3.7%. Expectations indicate that the average US hourly wage may rise to 0.4%.

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