73 Days
Source:
نداء الوطن
Nidaa Al-Watan: Biggest Weekly Gold Loss Since June
Gold prices declined during the week by the largest percentage since June, recording a decrease of 3.2%. This come amidst escalating geopolitical tensions in the Middle East and a 12% rise in oil prices since the start of the week. The escalation of strikes between the United States and Iran has increased inflationary pressures, bolstering the likelihood of interest rate hikes in the U.S., which negatively impacts the performance of gold, as it does not generate yields. Despite a slowdown in inflation figures in July, the rise in oil prices remains the main obstacle to an increase in the yellow metal's price.
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