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الاقتصادية
Gold declines amid U.S. rate hike expectations
Gold prices declined today due to rising employment data in the United States, which increased the likelihood of the Federal Reserve raising interest rates this month, thereby reducing the appeal of the precious metal. Gold fell by 1.2%, reaching $4,419.09 per ounce in spot trading, and more than 2% during the session at $4,364.99 per ounce. Meanwhile, December futures contracts decreased by 1.4% to $4,476.60. The U.S. labor market remains strong, with employment growth accelerating and the unemployment rate holding steady at 4.1%, with a 65% chance of interest rate hikes at the September meeting—up from 55% before the employment report was released. The dollar also surged following the data release, adding pressure on gold prices. Upcoming consumer and producer price data are expected to lead to further movements in the precious metals markets.
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