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المشهد العربي
Markets push precious metals lower
Gold prices declined due to inflation concerns and the strength of the US dollar, coupled with rising oil prices that increase inflationary pressures. The increase in the dollar and US Treasury bond yields to their highest levels since 2007 has raised the opportunity cost of holding gold. Additionally, forecasts suggest that the US Federal Reserve may raise interest rates in December, which negatively impacts the precious metals market. The December gold contract dropped by 4%, with the ounce settling at approximately $4,148 in futures and $4,116 in spot trading.
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