Gold prices rose on the European market on Thursday, in attempts to recover from a four-month low recorded earlier in the Asian market, while gains held by the dollar's rally against a basket of global currencies.

As of 09:35 GMT, Gold prices rose by 0.2% to trade at $1,276.22 an ounce from the opening level of $1,273.64, with the highest level at $1,277.65 and a low of $1,271.22, the lowest since the 27th of December.

Yesterday, gold prices lost 0.3%, the fifth daily loss in a row, among the longest daily losses this year, as demand for safe haven assets slowed.

Other than its rebounds from the four-month low, gold prices are currently supported by the recovery of demand levels for the metal as a safe haven, especially after weak data in Europe on the manufacturing sector during April, as it boosted signs of a sharp decline in the European economic growth.

The dollar index rose 0.35% on Thursday, hitting a two-week high of 96.99 points, reflecting the acceleration of the US currency's purchases against a basket of global currencies, especially against the Euro, This puts pressure on gold prices as it is dollar-denominated which makes its value rises for holders of other currencies.

The rise in the US dollar comes ahead of the release of important US data of March's retail sales, which provides strong evidence of the pace of growth of the world's largest economy in the first quarter of this year.

Gold holdings on the SPDR Gold Trust Fund The world's (largest gold-backed fund) rose yesterday by 0.59 metric tons, in the first daily gain since the 26th of March, bringing the total to 752.86 metric tons.

Ethereum price rose by more than 3% in spot trading today, Thursday, continuing its gains for the third day in a row, and recording the highest level in a week, as the world's second-largest cryptocurrency held tight above the $160 level, supported by the recovery of most major cryptocurrencies in the market led by Bitcoin.

As of 10:22 GMT, on Bitstamp Stock Exchange, Ethereum is trading around $171.55, up by $5.09 or by 3.1%, from the opening price of $166.46, with a high of $173.75 and a low of $166.08.

Yesterday, Ethereum gained 0.25%, its second consecutive daily gain, as demand for the world's second-largest cryptocurrency continued to improve.

Whilst, the market value of cryptocurrencies rose more than $2 billion to $180 billion on Thursday, with most of the major currency prices on the market climbing.

Whilst last week, the market value was at $186 billion, the highest level since November.

Most of the major cryptocurrencies in the crypto market continue to climb for the third day in a row, led by the Bitcoin, with the uptrend driving the price, with prices holding onto the recent rally amidst the positive atmosphere that currently dominates the market.

Japan's financial services agency FSA is in the process of issuing new rules for cold-storage wallets to store cryptocurrencies on encryption exchanges, Reuters reported on Wednesday, April 17th.

According to Reuters, Japan's regulatory body will need cryptocurrency exchanges to strengthen the internal control over cold-coded asset portfolios,"non-Internet-connected offline storage devices provided for storing cryptocurrencies."

By applying the new rules, the regulator will address the difficulties of ensuring the security of cryptocurrencies and other risks, as Japan intends to promote the high-tech industry to stimulate economic growth.

The British economy released at 09:30 GMT the monthly reading for retail sales, which rose by 1.1% in March, its third straight monthly gain, at the highest pace this year, beating forecasts of 0.3%, and better than the previous reading of a rise by 0.4%, this statement is positive for the pound sterling.

Bitcoin rose on Thursday's spot trading, continuing its gains for the third day in a row, as the world's largest cryptocurrency dominated the crypto market tradings and continued to rise above the $5,000 psychological barrier, in a sign that the Bull market run returned to control the pace of Bitcoin, amid the positive atmosphere that surrounds the crypto market currently.

As of 07:05 GMT, at Bitstamp, Bitcoin is trading around $5,265, rising by 0.7% or $38, from the opening of $5,222, with the highest at $5,303 and the lowest at $5,224.

Bitcoin rose 0.5% on Wednesday, its second consecutive daily gain, as investment demand on the world's largest cryptocurrency continued to improve.

Whilst, the market value of cryptocurrencies rose more than $2 billion to $180 billion on Thursday, with most of the major currency prices on the market climbing.

While cryptocurrencies' market value was at $186 billion Last week, the highest level since November.

The dominance of Bitcoin over tradings in the crypto market has increased from less than 50% in early April to 52.3% at present, as investors continue to focus on the largest cryptocurrency in the world, also indicating that the recovery is on the right track.

The increase in the dominance and the increase in the holding of prices by trading above the psychological barrier of $5,000, in a sign that the Bull market run came to control the pace of Bitcoin, as news continues to support the positive atmosphere in the crypto market.

While Bakkt focuses on providing its services to enterprises, LedgerX plans to complete the regulations in the United States to launch a futures contract designed to target retail investors.

As the company believes that the market capital of the bitcoin is only equal to the value of the large global stocks, it is unlikely that there will be significant institutional involvement, and therefore focuses on retail investors.

The rebound in the cryptocurrencies rates helped boost Binance's earnings, the largest digital platform in the world, by 66% in the first quarter of this year compared to the previous quarter, indicating that traders are quick to return to the crypto market in the first sign of recovery. Likely to attract traders who are still waiting to confirm the long term bottom.