Gold rises again amid forecasts of decline
Gold prices rose towards the end of the week due to falling oil prices and easing inflation concerns. Investors are watching the increase in U.S. interest rates following the first hike since 2023. Gold approached the $4,400 per ounce level and is on track to end the week higher, with its price now above the 100-day moving average. This positive momentum is supported by expectations of improved energy supplies thanks to Saudi Arabia resuming oil flows through the pipeline, which reduces pressure on oil prices and inflation. Despite the recent recovery, gold remains about 20% below its January all-time high. Investor inflows into gold funds continue to indicate strong interest, with forecasts suggesting a gradual rise despite the interest rate hikes.
Notice: This Is an AI-Generated Summary
Comments (0)