_1777294237270_124456903.png&w=64&q=75){kind=small}
Gold falls on U.S. rate hike bets
Gold prices dropped by more than 2% due to increased expectations of a US interest rate hike, following the rising growth in US job figures in August and the steady unemployment rate at 4.1%. This volatility comes amid forecasts that the Federal Reserve may raise interest rates at its upcoming September meeting, based on employment data that has fueled speculation about higher borrowing costs. As the likelihood of a rate hike increases, the spot price of gold reached $4,376.04 per ounce, marking an almost 1% weekly decline. Other precious metals, such as silver and platinum, also experienced significant declines, while attention remains focused on upcoming inflation data that will determine the course of US monetary policy.
Notice: This Is an AI-Generated Summary
Comments (0)