14 Days
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الاقتصادية
Gold hits one-week high amid falling oil
Gold prices rose to their highest level in a week, gaining 1.2% to reach $4,390.11 per ounce, as declining oil prices reduced inflation concerns and encouraged investors to buy. The easing of fears over oil supply disruptions and the failure of prices to continue falling in recent sessions contributed to easing inflationary pressures, despite the dollar reaching its highest level in over seven weeks and the Federal Reserve raising interest rates to the 3.75-4% range. It is expected that gold will continue testing resistance levels between $4,400 and $4,440, with some analysts anticipating further gains, especially considering weak demand in India and steady demand in China.
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