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اقتصاد سكاي نيوز عربية
Gold Approaching 6% Monthly Drop
Gold prices declined during Wednesday's trading sessions, amid expectations of an American interest rate hike, resulting in a monthly loss exceeding 6%. The market was influenced by anticipation of US inflation data, which will determine the Federal Reserve's monetary policy path, as rising interest rates reduce the attractiveness of gold since it does not generate income. The market is considering a 47% chance of a rate increase in October and a 91% likelihood in December. Economic data forecasts, such as the Personal Consumption Expenditures (PCE) index, will impact gold prices: if the reading is weak, prices could return to the $4,200–$4,300 per ounce range; if the data is strong, rising yields and the dollar are expected to put downward pressure on gold, potentially pulling the price to $4,100.
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