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وكالة صدى نيوز
Gold drops as yields and rate hike bets rise
Gold continued to decline over the past three days, influenced by escalating tensions in the Middle East and rising U.S. Treasury yields, with increased bets on interest rate hikes. The precious metal traded near $4,310 per ounce after dropping about 6% to its lowest level in two weeks, amid rising bond yields and a strengthened dollar. This comes amid Federal Reserve Chair's reaffirmation of the commitment to fight inflation and ongoing hostilities between the United States and Iran, which have led to higher oil prices and increased expectations of a U.S. interest rate hike to around 70% by the September meeting.
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