16 Hrs
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الاقتصادية
Gold falls 4% to $4,110
Gold prices experienced a sharp decline of about 4%, dropping to $4,110 per ounce. This was driven by market reactions to strong U.S. economic data and the Federal Reserve’s intention to raise interest rates to combat inflation, as well as rising oil prices that heightened global inflation concerns. The decline was accompanied by an increase in the U.S. dollar index and Treasury bond yields, which led to reduced demand for gold and added selling pressures. Expectations suggest that the downward momentum may continue due to the ongoing tone of monetary tightening from the Federal Reserve. Despite the long-term support for gold from central banks and geopolitical tensions, the short-term course of gold prices will depend on U.S. interest rate decisions and future rate changes.
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