18 Hrs
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الاقتصادية
Gold falls as dollar strengthens and rates rise
Gold prices declined today, Thursday, slipping by 0.5% to approach their lowest levels in seven months, below $4,000 an ounce, amid a strong dollar and increasing expectations of interest rate hikes. Silver also fell by 0.2% to $57.50 an ounce. Meanwhile, the dollar rose for the third consecutive day to reach its highest level in 13 months, increasing gold's cost for buyers using other currencies. Markets anticipate that the U.S. Federal Reserve will raise interest rates three times this year, with tomorrow's release of personal consumption data acting as a key indicator of inflation.
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