37 Days
Source:
الخليج
Inflation and interest rates lead to gold's biggest weekly decline in six weeks
Gold experienced its largest weekly decline in six weeks, driven by rising oil prices due to escalating confrontations between the United States and Iran. This has heightened concerns about inflation and the possibility of a U.S. interest rate hike. Oil prices increased by approximately 12% over the week, exerting additional pressure on gold, which fell by 3% since the beginning of the week—its biggest drop since June. With expectations of a rate hike rising, the market now assigns a 73% probability that it will occur in December. This reduces gold’s appeal as a safe-haven investment, while other precious metals like silver, platinum, and palladium also declined noticeably.
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