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الكتائب اللبنانية
Gold price continues to fall
Gold prices fell today Tuesday due to a rise in the dollar and US Treasury bond yields, despite a decline in expectations for interest rate hikes by the Federal Reserve in October. The spot price of gold decreased by 0.3% to reach $4,128.69 per ounce, while US futures contracts traded around $4,156. Continuing strength of the dollar and rising bond yields are putting pressure on the precious metal, although fundamental factors support it in the long term, with expectations that increased geopolitical tensions in the Middle East will serve as a primary future catalyst. Data indicate that slowing economic growth and high inflation could sustain elevated US interest rates, which in turn impact gold demand.
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