Gold set for best weekly gains since January

Gold prices surged significantly this week, marking the largest gains since January, as investors awaited the release of the U.S. non-farm payroll data today. The rise was driven by a decline in oil prices, which reduced inflation concerns, leading to decreased expectations that the U.S. Federal Reserve will keep interest rates high for an extended period. Additionally, hopes for de-escalation in the Middle East, especially with expectations of ending the war with Iran, supported the price of gold, which surpassed the $4,000 per ounce level. This level now acts as an important support zone, with the potential for prices to reach $4,600 if the momentum continues. Data also indicates that the probability of a rate hike in September has fallen to 55%. Apart from gold, other precious metals like silver and platinum also experienced weekly gains, supported by improved investor appetite for them.

articleDetails.fontSize.sizeحجم النص

تنويه: هذا ملخص تم إنشاؤه بواسطة الذكاء الاصطناعي

عرض المقال بالكامل