Gold declines amid rising oil prices

Gold prices declined significantly over the week, falling by 3.5% to reach their lowest level since July. This was influenced by rising oil prices and expectations that U.S. interest rates will remain high for a longer period. Investors are awaiting the Federal Reserve's meeting at the end of October, during which interest rates are expected to be maintained, with a strong likelihood of a rate hike in December. This outlook supports inflation concerns and strengthens the dollar. Experts indicate that the rise in energy prices makes holding non-yielding gold less attractive, while breaking the $4,000 per ounce level could lead to further changes in market expectations.

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