18 Hrs
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الاقتصادية
Oil shock shifts gold outlook
Gold prices suffered a significant decline due to rising oil prices, a strong dollar, and increases in Treasury bond yields, falling more than 3% to the lowest level in over seven weeks. This drop occurred amid oil reaching its highest levels in several months, reflecting inflation risks and pressure on Federal Reserve policies. Currently, gold faces challenges from expectations of prolonged US interest rate hikes, which reduce its appeal as a safe haven and increase the cost for investors outside the United States. Meanwhile, the dollar and yields are rising, driving precious metals prices down. Market outlook appears tied to upcoming US economic data, which will determine the interest rate path and its impact on gold prices.
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