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كويت نيوز
Gold ends week at $4,377 an ounce
Gold prices rose over the past week to reach $4,377 per ounce, supported by a decline in the dollar and expectations of no rate hikes by the US Federal Reserve in September, due to weak American economic data including lower retail sales and subdued inflation. The chances of a Federal Reserve interest rate increase decreased to around 31% from 55% a week earlier, boosting gold's attractiveness. Additionally, US Treasury yields fell, and consumer confidence declined. Markets are closely watching the Fed and European Central Bank meeting minutes, along with key economic data releases, as gold's direction depends on the dollar's trajectory, interest rate expectations, and geopolitical developments in the Middle East. It is expected that prices will continue to fluctuate between $4,300 and $4,400 in the coming period, aligned with market movements. In Kuwait, these gains have reflected in local gold prices, with the price of 24-karat gold approximately 43.2 Kuwaiti dinars per gram.
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