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Gold Falls Amid Rising Oil and Inflation
Gold prices decreased today, Monday, by 0.4% to reach $4,000.55 per ounce, marking a 2.5% decline over the week. This downturn is driven by the rise in oil prices to over $90 per barrel due to escalating conflict in the Middle East, which raises concerns about inflation and suggests a possible increase in interest rates by the U.S. Federal Reserve. Meanwhile, other precious metals experienced slight gains: silver rose by 0.9% to $56.42, platinum increased by 0.1% to $1,592.97, and palladium went up by 0.3% to $1,251.74.
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