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المشهد
Gold After Sharp Decline
Gold fell 3% last week to $3,875 an ounce, after touching $3,870, marking its third consecutive weekly decline and its lowest level in about a year. It also lost 6.8% in October. Technical analyst Mohamed al-Barmawi attributed the drop to oil prices rising to $118, inflation fears and persistently high interest rates, as well as investors selling gold to raise cash after losses in stocks. Despite the continued pressure, al-Barmawi forecast a modest rebound of around $30 this week, with energy prices, monetary policy, inflation and stock-market performance continuing to influence the metal’s movements.
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