22 Hrs
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الاقتصادية
Gold dips ahead of Fed remarks
Gold prices slightly declined as investors awaited statements from Federal Reserve Chair Jerome Powell, which will clarify the central bank's stance on interest rate hikes. The precious metal fell by up to 0.6%, approaching $4,160 per ounce, after experiencing its biggest increase in over two weeks during the previous session. The statements reflect market expectations regarding the continuation of monetary tightening, especially in light of recent economic data that increased the odds of a rate hike in October. Gold prices continue to be influenced by rising borrowing costs and the repercussions of the Iran conflict, having lost about one-fifth of their value since the outbreak of the crisis in February.
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