Saleh explains how U.S. interest rate changes influence gold and dollar movements in Iraq
The financial advisor to the Iraqi Prime Minister stated that US interest rates and the strength of the dollar directly impact the global price of gold. Raising interest rates tends to push investors toward income-generating assets, reducing demand for gold, while lowering interest rates enhances demand and increases the appeal of the precious metal. He explained that the Federal Reserve has kept interest rates steady at 3.50% to 3.75%, and markets are anticipating a future rate cut that could support gold prices before an official decision is made. Additionally, the local market in Iraq is influenced by global price movements and competition with the dollar as a safe haven asset.
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