2 Hrs
Source:
الاقتصادية
Gold Weighs on Third Weekly Loss
Gold prices have declined for the third consecutive time amid rising oil prices and increasing inflation in the United States, which heighten the chances of the Federal Reserve raising interest rates next week. Gold remained close to $4,315 per ounce after a 1.8% drop in the previous session, amid a 0.4% increase in U.S. producer prices last month—the highest rate since May—and growing pressure due to escalating tensions in the Middle East. Additionally, U.S. bond yields have risen, putting pressure on gold, which does not accrue interest, with expectations of around a 70% chance of an interest rate hike. Investors are closely watching the upcoming U.S. Consumer Price Index, to be released today, which will influence the Fed’s policy direction. Meanwhile, gold is on track for a weekly decline of 2.7%.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)