1 Day
Source:
الاقتصادية
Gold dips below $4,300 on profit-taking
Gold prices declined for the second consecutive day, as the cessation of profit-taking led to a relative stabilization after its previous rise, which was driven by moderate U.S. inflation data and a decrease in the likelihood of interest rate hikes in the United States. The precious metal fell to around $4,310 an ounce after reaching a 10-week high, with investors confirming that the upward wave had paused temporarily as they await additional economic data and statements from Federal Reserve officials regarding monetary tightening policies. While the continued rise in interest rates poses a pressure on gold, tensions in the Middle East and news about energy price fluctuations keep risks present, with concerns that prices may rise again if the conflict escalates. Currently, gold remains neutral, as the market focuses on monitoring economic data and the direction of U.S. monetary policy.
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