Gold Prices Rebound on Bargain Hunting but Remain on Track for Weekly Loss
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Gold Prices Rebound on Bargain Hunting but Remain on Track for Weekly Loss
Gold prices recovered on Friday as investors sought opportunities following a sharp sell-off that pushed bullion to its lowest level in more than a year. However, inflation concerns and expectations of further US interest rate increases continued to pressure the precious metal, leaving it on course for a significant weekly decline.
Gold rose 1.1% in international markets after falling to its lowest level in more than a year in the previous session. The spot price reached $3,918.59 per troy ounce, while U.S. futures for December delivery added 1% to $3,922.60. Despite the recovery, the precious metal remains down 3.6% for the week. According to Report.az, citing Reuters, the rise was supported by buying at lower prices after a sharp decline in the previous session. The mark…
(Dan Tri Newspaper) - After plummeting to its lowest point in over a year, world gold prices have unexpectedly reversed course and risen again thanks to large inflows of capital, despite continued pressure from monetary policy.
Gold recorded an upward reaction on Friday (13/11), after the three-day wave of liquidations that cost more than 6% of its value, finding support
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