17 Hrs
Source:
سرايا الإخبارية
Gold holds steady with prolonged high interest rate outlook
Gold's price is expected to attract attention as it stabilizes, with investors assessing the likelihood that major central banks will keep interest rates high for a longer period to control inflation. The spot price of gold remained relatively unchanged at around $4,356.92 per ounce, while U.S. gold futures rose by 0.4% to $4,394.90. Statements from the Federal Reserve Bank of Boston's chairwoman reaffirmed support for the Federal Reserve's rate hike last week, aimed at addressing the risk of inflation exceeding 2%. The Federal Reserve has raised interest rates to a range between 3.75% and 4%, hinting at another possible increase before the end of the year through cautious measures to combat persistent inflation. Although gold is typically used as an inflation hedge, rising interest rates tend to reduce its appeal. Other precious metals experienced modest gains, with increases in silver, platinum, and palladium. Despite this, gold remains a prominent investment tool under the current monetary policy environment.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)