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Source: اقتصاد سكاي نيوز عربية
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Gold prices face their biggest weekly loss in six weeks, declining by 3.2% since the start of the week. This comes amid escalating tensions between the United States and Iran, which have caused oil prices to rise by about 12% since the beginning of the week, increasing inflationary pressures and the likelihood of a US interest rate hike. Despite a 0.5% increase in gold prices during Friday’s trading to reach $3,988.20 per ounce, the impact of geopolitical tensions and inflationary pressures continues to hinder its recovery. Market expectations of a 73% chance of a rate hike in December are putting pressure on the precious metal and causing other metals to decline as well.
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