9 Hrs
Source:
المشهد العربي
Gold and silver fall amid rate hike fears
Gold and silver prices declined during the closing transactions, due to rising expectations of an interest rate hike by the Federal Reserve, prompted by producer inflation data showing an acceleration in inflation driven by higher energy costs. The anticipation of this rate increase came after increases in oil prices and tensions in the Middle East, which pushed the dollar and bond yields higher, exerting pressure on precious metals. At the same time, the European Central Bank decided to raise interest rates to control inflation, while UK bond yields reached their highest levels in 28 years amid a global inflation wave and market volatility.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)