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Gold Faces Pressure from Rates and Dollar
Gold prices in the Egyptian and global markets have declined for the third consecutive week, influenced by the decrease in the US dollar exchange rate and expectations that the U.S. Federal Reserve will adopt a more hawkish stance on monetary policy in the future. The price of 21-karat gold has reached its lowest level in a week, fluctuating around 6,250 Egyptian pounds per gram and below $4,300 per ounce, as markets await further clues on the direction of U.S. interest rate hikes. Despite these pressures, investment inflows into global gold funds have continued for an eleventh straight week. Additionally, declines in oil prices are helping to reduce inflation expectations, which may temporarily limit further increases in gold prices.
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