Gold Falls for Fourth Consecutive Session as Oil Rises and Inflation Fears Persist
Qiyas summary
Gold and precious metals prices drop as investors await the Federal Reserve meeting
Translated by Qiyas from السياسة — Original source
Gold fell for a fourth consecutive session on Wednesday, as rising oil prices fueled concerns about inflation, while investors awaited next week’s Federal Reserve monetary policy meeting in search of clues on the interest rate trajectory.
Spot gold dropped 0.2 percent to $4,118.18 per ounce, while U.S. December gold futures declined 0.2 percent to $4,136.20.
Among other metals, spot silver fell 0.9 percent to $57.44 per ounce, platinum dropped 0.6 percent to $1,638.61, and palladium declined 1.1 percent to $1,090.84.
