51 Mins
Source:
بوابة الوسط
Gold steady before Fed decision
Gold prices experienced a narrow decline ahead of the U.S. Federal Reserve's decision on interest rate hikes, as markets awaited the outcome of the meeting that may raise rates by a quarter of a percentage point. This decision adds uncertainty, especially for gold, which does not generate yield. Despite losing about a quarter of its value since the start of the US-Israeli war against Iran over five months ago—driven by rising energy prices and inflationary pressures—gold has maintained a key support level near $4,000 per ounce, with relatively stable performance despite rising bond yields. Analysts expect the Federal Reserve's decision to determine the next direction for gold prices, noting that the market has been oscillating amid escalating tensions in the Middle East and rising oil prices. Brent crude oil surged by more than 4%, surpassing $87 per barrel after the U.S. military intercepted an Iranian attack on Gulf targets.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)