41 Days
Source:
Sharjah24
Gold price drops 1.7% in spot trading
Gold prices have fallen significantly, with spot transactions dropping by 1.7% to approximately $3,990 per ounce — the lowest level in over two weeks. This decline comes amid escalating tensions in the Middle East, rising oil prices, and increased US Treasury yields. Additionally, futures contracts for August delivery declined by 1.4%. This downturn occurred alongside a drop in other precious metals: silver decreased by 3.1%, platinum by 2.2%, and palladium by 3%. These movements reflect investors' concerns over persistent inflation and rising US interest rates.
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