Heavy Fall in Gold in the Global Market

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Future gold contracts closed this Thursday (22) in a sharp fall, under pressure from an increase in the perception of geopolitical risk and the advance of oil prices, less than a week before the Federal Reserve's next monetary policy decision (Fed, the U.S. central bank). At Comex, the New York Mercantile Exchange (Nymex) metal division, future gold contracts with delivery for November closed in a fall of 2.16%, quoted at $4,046.1 per ounce. The…

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Gold prices dropped to a two-month low of $4,025 due to US Federal Reserve rate hike concerns and rising inflation threat.

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The global price of gold fell more than 2 percent in Thursday's trading, approaching the $4,000 mark. Rising oil prices, concerns about rising inflation, and the possibility of continued high interest rates in the United States are cited as the main factors putting pressure on the gold market.