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المشهد العربي
Global gold prices dip on profit-taking
Global gold prices have declined amid profit-taking after reaching their highest levels in over two months. Gold futures for October delivery fell by 1.05%, losing $46.8 to reach $4,340.5 per ounce, while spot gold decreased by 0.75% to $4,318.29 per ounce. This decline followed moderate American inflation data, which led to a reduction in the projected likelihood of interest rate hikes to 35% from 55% last week. Meanwhile, producer prices remained stable and consumer prices increased only slightly. These factors are impacting the gold market and prompting short-term profit-taking by investors, as markets await upcoming U.S. consumer confidence data and inflation forecasts.
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