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Gold prices record the worst decline in a year, as global stocks rise
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Economy News _ Baghdad
Today, Thursday, gold prices recorded a clear decline since 2021, with global stocks rising in the wake of the decline in oil prices, after the United Arab Emirates announced that it would help increase oil production, making safe haven bullion less attractive.
And spot gold fell 0.8 percent to reach 1975.79 dollars an ounce by 04:20 GMT, after prices fell by 1 percent earlier in the session, and US gold futures fell 0.3 percent to 1982.40 dollars.
The safe-haven metal fell about 3% in the previous session, its worst intraday drop since January 2021, down from a record high since August 2020 hit on Tuesday.
Asian stocks also rose, tracking Wall Street's overnight gains as diplomatic talks between Russia and Ukraine boosted sentiment.
Among other metals, spot silver fell 0.9% to $25.51 an ounce, while platinum was down 0.7% to $1068.52.
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