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المشهد العربي
Gold prices keep falling near $4,000
The trading of precious metals, especially gold, experienced a decline on Wednesday, with the price of an ounce nearing the $4,000 level. The market was influenced by the Federal Reserve's outlook on interest rates and geopolitical tensions in the Middle East. The rise in the US dollar index and US Treasury bond yields reduced gold's appeal. While interest rates are expected to remain stable at the current Fed meeting, markets are now pricing in an approximately 80% chance of a rate hike in September amid inflation concerns following escalating military tensions in the region. The August futures price of gold dropped by 0.78% to $4,007.10 per ounce, while the spot price declined by 0.59% to $4,003.29.
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