Dollar Approaches Two-Month Peak, Gold Drops
The dollar remains close to its two-month high, amid expectations of further interest rate hikes in the U.S. to combat inflation. Markets are also paying close attention to the repercussions of the Middle East conflict and its impact on oil prices. Conversely, the gold price decreased by 0.6% to $4,329 per ounce. Although gold is still considered a hedge against inflation, the rising interest rates are diminishing its appeal. Markets are heading toward greater monetary tightening by central banks, with forecasts suggesting U.S. interest rates will reach between 3.75% and 4% before the end of the year.
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