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الشارقة 24
Gold declines as oil rises and rate hike fears grow
Gold prices dipped slightly by 0.2% to reach $4,287.69 per ounce, after hitting their lowest level since August, amid fears of inflation due to rising oil prices. This supports expectations that the U.S. Federal Reserve will raise interest rates by a quarter of a percentage point to a range between 3.75% and 4.00%, with the monetary policy decision to be announced after a two-day meeting. Additionally, oil prices increased above $108 per barrel due to supply concerns, while other precious metals such as silver and palladium experienced declines.
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