Gold faces its largest weekly decline in a month and a half
The article reviews a significant decline in the price of gold, which is heading toward the biggest weekly loss in six weeks due to escalating tensions between the United States and Iran, and rising oil prices that have increased inflationary pressures and the likelihood of raising American interest rates. Gold has reached its lowest level since early July, with a decrease of 3.2% since the beginning of the week. Expectations also indicate a 73% chance of U.S. interest rates rising in December, which diminishes gold's attractiveness as a safe haven. Other precious metals, such as silver and platinum, have also declined. These tensions in the Middle East and their impact on oil prices are at the heart of inflation concerns.
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