16 Hrs
Source:
وكالة صدى نيوز
Gold falls globally amid dollar strength
Gold prices declined on Wednesday, heading towards a monthly loss exceeding 6%, due to rising expectations of U.S. interest rate hikes and anticipation of inflation data that will influence the Federal Reserve's monetary policy path. Spot gold fell by 0.2% to approximately $4,180 per ounce, while futures prices increased by 0.5% to around $4,202, as investors awaited the U.S. Personal Consumption Expenditures (PCE) Price Index. The decline in gold reflects the continued strength of the dollar, which is achieving monthly gains against the euro and other currencies, making the precious metal more expensive for investors holding non-dollar currencies. In September, the dollar rose by 2.5% against the euro, while the currency markets are heading towards further rigidity amid economic and political concerns in Europe.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)