15 Hrs
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الاقتصادية
Gold shifts as rate hike fears subside
Gold prices have been fluctuating recently due to conflicting support and resistance factors. Prices increased by 0.5%, nearing $4,195 per ounce, recovering from last week’s losses. Meanwhile, traders have lowered their expectations for a U.S. interest rate hike to below 20% following Federal Reserve Chair’s statements indicating rates will likely remain unchanged at the upcoming meeting. Despite this, gold stays close to its lowest level in nine weeks, amid the ongoing risk of another rate increase before the end of the year, heightened geopolitical tensions, and continued investor flows into gold-backed ETFs. However, the metal remains roughly 20% lower since the start of the conflict between the U.S. and Iran.
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