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عين ليبيا
Gold falls as oil rises amid market waits
Gold prices declined slightly in Monday's trading due to rising oil prices and increasing inflation concerns. This reflects investors' expectations that the U.S. Federal Reserve will raise interest rates at its expected meeting this week. Gold prices fell by 0.64% to $4,319.70 per ounce in the spot market, marking a third consecutive week of losses. Meanwhile, U.S. gold futures declined by 1.07% to $4,361.60 per ounce. This comes amid rising expectations of a rate hike to around 86%, following American inflation data showing a rapid increase in consumer prices and a rise in core inflation, thereby fueling expectations of further rate increases. Oil prices, on the other hand, surged by more than 2%, amid concerns over disrupted energy supplies in the Middle East due to attacks by the Houthis on Saudi Arabia and Iranian attacks on ships in the Gulf. Tensions in the region are escalating, with Iran retaliating against American attacks by targeting military facilities and equipment in Arab countries, adding to the uncertainty surrounding oil supplies and influencing global markets. As inflation fears persist and geopolitical tensions remain elevated, market expectations continue that gold will remain under pressure from interest rate hike prospects, although some institutions project that its price could reach $4,900 by the end of 2026.
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