Gold drops as oil rises and policy tightens
Gold prices in Asian markets declined following a rise in oil prices above $100 a barrel, fueling inflation concerns and expectations of higher U.S. interest rates. The spot price of gold fell by 0.4% to $4,030.09 per ounce, with weekly gains limited to around 0.4%. Other precious metals, such as silver, platinum, and palladium, also saw declines. The market is awaiting the Federal Reserve's meeting next week, amid ongoing concerns over inflation and the fact that gold is losing its appeal as a non-yielding asset.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)