Gold Prices Tumble Under Pressure From Rising Dollar and Rate Hike Expectations
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4 Articles
Marsad Al Dahab: Gold Falls EGP 70 as Stronger Dollar and Fed Comments Weigh on Prices
Marsad Al Dahab reported a decline in gold prices in the Egyptian market and on the global exchange by midday Wednesday. The US dollar rose to its strongest level in two months after comments from Federal Reserve officials reinforced expectations of further interest rate increases.
Key takeaways Gold prices continue to fall due to the expectation that central banks will maintain high interest rates to combat persistent inflation. At 12:09 PM, the gold price stood at $4,316 per ounce, while gold futures were trading at $4,354. Strong US dollar That downward trend was further reinforced by the stronger US dollar, which the […]
The increase in restrictive bias on the part of the monetary authorities raised the probability of an adjustment to 90% in December, directly impacting on the spot quotes. The price of spot gold dropped 0.4% on Tuesday to US$ 4,327.74 per ounce at 10:50 GMT, pressed by the messages of [...]
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