6 Hrs
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الاقتصادية
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Gold shifts as rate hike fears ease
Gold prices rose slightly following a decrease in expectations for a U.S. interest rate hike after remarks by Federal Reserve Chair Kevin Worch. The precious metal increased by 0.5% to nearly $4,195 per ounce, while silver climbed by 0.8% to $58 per ounce. The interpretation of Worch's statements led to a reduction in rate hike expectations to below 20%, which supported gold prices, despite ongoing concerns about the possibility of another rate increase before the end of the year. Gold maintained a key support level at $4,000 per ounce, with gold-backed ETF investments rising over 13 weeks. However, tensions and economic conditions continue to worry the market about the sustainability of these gains.
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