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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Prices of the "yellow metal" recorded a decline in global markets

    Rocky
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    Prices of the "yellow metal" recorded a decline in global markets Empty Prices of the "yellow metal" recorded a decline in global markets

    Post by Rocky Thu 13 Oct 2022, 4:46 am

    [size=35][size=35]Prices of the "yellow metal" recorded a decline in global markets[/size]
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    Economie

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    2022-10-13 | 03:23
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    Alsumaria News - Economy

    Gold prices witnessed a decline, today, Thursday, with caution that investors followed in anticipation of inflation data in the United States.


    Gold fell by 0.2% in spot trading, to reach $1,668.84 an ounce by 0420 GMT, while US gold futures fell to $1,675.50, meaning that it lost about 0.1% of its value.






    Gold prices are subject to inflation data
    . The US inflation data expected to be released later today is expected to affect the next steps of the Federal Reserve (the US central bank) towards raising interest rates.

    Although gold is considered a traditional way to hedge against inflation, the policy of raising interest rates adopted by the Federal Reserve in order to counter inflation reduces the attractiveness of the yellow metal because it does not generate a fixed return like bonds.
    [rtl]Related Articles[/rtl]

    Inflation data (US consumer prices) is due by 1230 GMT.

    According to expectations, the inflation rate reached about 8.1% on an annual basis during the month of last September, and in the event that this percentage is announced, this will enhance expectations that the Federal Reserve will raise the interest rate again.

    Gold is falling for the sixth month,
    and concerns about interest rates led to the precious metal recording its sixth monthly loss during the month of September, for the sixth month in a row.

    And gold fell by about 2.6% during the last month due to the strength of the US dollar, and the rise in US Treasury bond yields.

    September was a difficult month for various assets, as global stocks fell by 9.5%, while metals in general fell by 8.4%.

    During 2022 alone, the dollar was able to achieve gains estimated at 15%, supported by raising interest rates.

    The US Federal Reserve adopted a tough policy towards raising interest rates in order to curb inflation.

    On the other hand, the price of silver in spot contracts decreased by 0.5% to reach $18.96 an ounce, while platinum rose by 0.2% to reach $881.63, and palladium rose by 0.1% to record $2138.43.

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