Gold falls to two-week low amid expectations of a US interest rate hike
Gold prices fell today, Monday, to their lowest level in about two weeks, after Federal Reserve Chair Kevin Warsh signaled that interest rate hikes may be necessary to curb inflationary pressures, amid rising Middle East
Translated by Qiyas from السياسة — Original source
Gold prices fell today, Monday, to their lowest level in about two weeks, after Federal Reserve Chair Kevin Warsh signaled that interest rate hikes may be necessary to curb inflationary pressures, amid rising Middle East tensions that have heightened inflation concerns.
Spot gold fell 0.8% to $4,417.04 per ounce by 0406 GMT, marking its weakest level since August 19, following a drop of more than 3% on Friday.
Among other precious metals, spot silver fell 0.4% to $66.10 per ounce, platinum declined 1.3% to $1,797.03, and palladium dropped 2.5% to $1,386.96.
