Gold stabilizes near 7-week low amid anticipation of US data
Gold prices stabilized near their lowest level in seven weeks amid concerns over the continued rise in interest rates.
Translated by Qiyas from السياسة — Original source
Gold prices stabilized on Tuesday but remained near their lowest level in over seven weeks, amid concerns that the Federal Reserve (the US central bank) would keep interest rates at elevated levels for longer, as investors awaited a series of US economic data releases.
Spot gold prices saw little change, trading at $4,124.57 per ounce by 0140 GMT, after hitting a low not seen since August 5 in the previous session. US gold futures fell 0.3% to $4,156.70.
Among other precious metals, spot silver dropped 0.6% to $60.62, platinum declined 1% to $1,699.86, and palladium fell 0.5% to $1,209.08.
