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Gold Edges Up Amid Lower Oil and Dollar
Gold prices saw a slight increase today, Friday, driven by falling oil prices and a decline in the US dollar, amid ongoing focus on developments in the Middle East and the outlook for global monetary policy. The spot price of gold rose by 0.3% to $4,355.05 per ounce, while US gold futures declined by 0.1%, recording $4,394.10. Oil prices have fallen for the third consecutive day, and with a weak dollar, gold becomes more attractive as a safe haven, although rising interest rates may dampen demand and impact inflation and future rate expectations. Experts believe the Federal Reserve may raise interest rates again, while Goldman Sachs expects the gold price to remain at $5,400 by the end of 2027 despite monetary tightening.
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