10 Hrs
Source:
الاقتصادية
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Gold holds steady near $4290 before Fed decision
Gold prices remained steady near $4,290 an ounce as investors awaited the Federal Reserve's decision on interest rate hikes, which has become 92% likely due to rising oil prices and the U.S. 10-year bond yields reaching their highest level since 2007, at 5.04%. This increase in bond yields and higher borrowing costs are diminishing gold's attractiveness, as it does not generate interest, leading to a potential third consecutive weekly decline. Experts expect that continued rate hikes or unclear Federal Reserve signals could push investors to demand higher yields on long-term bonds to contain inflation, with gold possibly dropping to lower levels if a key support at $4,250 an ounce is broken.
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