Gold prices fell on the European market on Thursday for the first time in three days, falling from the highest level in two weeks, with a noticeable activity of correction and profit taking, and the recovery of the dollar against a basket of currencies with the rise of most of the global stock markets.

As of 10:03 GMT, Gold prices fell by 0.9% to trade at $1,297.52 per ounce from the opening of $1,308.85 and the highest at $1,310.36 and the lowest at $1,295.93.

Gold prices rose 0.6% on Wednesday, the second daily gain in a row, the highest in two weeks at $1,311.11 an ounce, based on the decline of the US dollar against a basket of currencies.

Besides, today The dollar index rose more than 0.25% , making its first gain in five days, recovering from a two-week low of 96.32 points, reflecting the greenback rebound against a basket of major and secondary currencies.

The dollar's recovery comes as 10-year Treasury yields interest rates bounce back from a two-month low as the risk appetite improves in high-yielding asset markets, which makes the dollar the best current investment in the foreign exchange market.

European stocks hit a five-month high Thursday after the British parliament rejected the country's break-up from the European Union without a deal. The Standard & Poor's 500 jumped to its highest in five months ahead of the opening of the official trading session on Wall Street.

Gold holdings with SPDR Gold Trust (The largest global gold-backed index fund), remained unchanged yesterday, with total volume at 772.46 metric tons, the highest since March 1.

Oil prices rose on Thursday, extending gains for a fourth consecutive day, the highest level in four months, on the back of fears that the United States will be overwhelmed by an unexpected drop in commercial stocks and a slowdown in oil production for the first time since December.

By 09: 40 GMT, US crude rose to $58.50 a barrel from the opening of $58.35, and reached $58.65 its highest since November 13, and a low of $58.25.

Brent crude rose to $67.85 per barrel from the opening of $67.62, and and reached $68.12 its highest since 12 since November 16 and a low of $67.56.

US crude gained 2.2% on Wednesday, the third daily gain, after the weekly report of EIA, and Brent contracts also rose 1.2%, as OPEC's efforts continue to support the market.

U.S. Energy Information Administration (EIA) announced yesterday that the country's trade inventories fell by 3.9 million barrels in the week ending March 8, contrary to experts' estimates of a rise of 2.7 million barrels, the second decline in the last three weeks.

For the US production levels, last week fell by about 100,000 barrels per day, the first weekly decline since the week ending December 7, bringing the total to 12 million barrels per day, leaving its record level of 12.1 million barrels.

In addition to easing the supply concerns in the United States, "the world's largest consumer and producer of oil," there is also support for high oil prices at the moment, with OPEC and Russia continuing to balance the market, as well as US sanctions against Venezuela and Iran.

Litecoin fluctuate higher to 1% or nearly $0.6 on Thursday, resuming its rebound from its lowest since March 6 for the second session in three sessions, in addition to shrinking its losses from earlier this week following last week's extended gains as Venezuela's allowed Bitcoin and Litecoin as money-transfer methods to circumvent US economic sanctions.

At 05:29 GMT GMT, Litecoin rose 0.99% to $56.966 compared to the opening level of $56.379, after reaching a high of $57.366 , while the lowest at $56.120.

Venezuelan President Nicolas Maduro's decision to cut off diplomatic ties with the United States and accuse his counterpart Donald Trump of sabotaging the political situation in his country. The Government stated that the presence of diplomats on its territory poses a threat to the unity and security of the country.

This came after reports of the United States imposing new economic sanctions on the Moscow-based Evrofinance Mosnarbank, citing the move that the Russian bank has financed activities supported by Venezuelan perto-cryptocurrency which is baked by the country's oil reserves, all as part of US action to cut off financial supplies to Maduro's government, which could boost demand for the Bitcoin and Litecoin to circumvent US economic sanctions.

It also worth mentioning that at the end of last week, after testing $60 for the first time in five months, Litecoin saw corrections to its gains, before this corrective actions widened earlier this week amid a report on the rise in money laundering operations linked to the cryptocurrencies in Japan The the world's second-largest cryptocurrency market.

In the wake of the Venezuelan government ratification of the Bitcoin and the Litecoin as Money transaction methods within the efforts of avoiding the Economic sanctions that were imposed on them by the US recently., which is still stepping up pressure on Maduro government to overthrow his regime from the largest country with oil reserves in the world, while the latter held power and started efforts to sell his country's oil in currencies other than the US dollar.

The British pound fell on Thursday against a basket of world currencies to ease from an eight-month high against the US dollar earlier in the day, with correction and profit taking activity ahead of the British parliament's postponement of the Brexit deadline On 29 March.

As of 07:45 GMT, The pound fell against the dollar by 0.3% , trading at $1.3275, while opening  at $1.3312, with the highest at $1.3324, and the lowest at $1.3239.

The British pound yesterday gained 1.85% against the US dollar, its biggest daily gain since January 24, 2018, hitting its highest in eight months at $1.3381, after the British parliament rejected a no-deal Brexit.

Parliament voted Wednesday with 312 vs 308, in favor of an amendment put forward by a group of lawmakers that obliges the British government to exclude EU exit without an agreement.

Theresa May's government has previously warned that the country would face political, economic and constitutional challenges if it exited the European Union without an agreement on March 29.

the Parliament passed the second heavy defeat of Prime Minister Theresa May on Tuesday over her Brexit plan with the European Union, deepening the political crisis in the country without any concrete signs of how to get out of the current chaos.

The British parliament will vote later today, on whether the European Union should be asked to postpone the planned Brexit deadline on the 29th of this month for a further period of time. but even If the parliament approves it, it will be a more difficult approval to require the rest of the EU member states to approve that.