Gold drops toward four-month low
Gold prices declined today, with expectations of the biggest weekly loss in over four months, driven by ongoing forecasts that the U.S. Federal Reserve will keep interest rates high for a longer period. This outlook is supported by rising oil prices and strong American economic data. Spot gold fell by 0.1% to $4,018.69 per ounce, marking its lowest level since August, with weekly losses totaling 3.4%. Additionally, U.S. gold futures declined by 0.6% to $4,033.70, amid continued expectations of interest rate hikes and the impact of rising oil prices on inflation.
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