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الاقتصادية
Gold falls amid stronger dollar and lower rate outlook
Gold prices experienced a limited decline today, Monday, amid a strengthening US dollar following the release of weaker-than-expected economic data from the United States, which led to reduced expectations of a rate hike in October. The spot price of gold fell by 0.3% to $4,131.61 per ounce, while December futures contracts for gold decreased by 0.1%. The dollar index rose by 0.6%, which weighed on the value of gold priced in dollars. Data show that employment growth in the US slowed more than expected, leading to an 18% reduction in the likelihood of the Federal Reserve raising interest rates in October, while expectations of a rate hike in December stand at 88%. On the geopolitical front, escalation in Yemen and rising oil prices caused volatility in global markets, while prices of other metals such as silver and platinum increased.
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