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[size=35][size=35]Global yellow metal prices declined[/size]
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2022-12-15 | 02:13
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Alsumaria News - Economy
Spot gold fell 0.9 percent to $1,791.23 an ounce by 05:50 GMT, down from the more than five-month peak it hit on Tuesday. US gold futures fell 0.9 percent, to $1,802.10.
Powell said yesterday, Wednesday, that the US Central Bank will adopt more interest rate hikes next year, even though the US economy is sliding towards a possible recession, and he explained that the economy will incur a higher price if the Central Bank does not curb inflation strongly.
Christopher Wong, an analyst at VOCBCFX, said that the central bank's adherence to the tendency to tighten monetary policy is putting pressure on the metal, and that the gold price outlook depends on the amount of tightening that central banks, especially the US central bank, intend to do from now on.
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[ltr]05:00 | 2022-09-16[/ltr][/rtl]
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[ltr]00:50 | 2022-11-18[/ltr][/rtl]
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[ltr]02:37 | 2022-09-7[/ltr][/rtl]
Gold is known as a hedge against inflation, but high interest rates tend to weaken its attractiveness because it increases the opportunity cost of holding non-returnable metal.
The dollar index rose 0.1 percent. An increase in the dollar makes gold more expensive for overseas buyers.
As for other precious metals, silver fell 2.7 percent to $ 23.24 an ounce, platinum fell 1.1 percent to $ 1017.25, while palladium fell 0.7 percent to $ 1903.18.
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Economie
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2022-12-15 | 02:13
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348 views
Alsumaria News - Economy
Gold prices fell by nearly 1 percent today, Thursday, after Jerome Powell, Chairman of the Federal Reserve (US Central Bank), said that next year will witness more interest rate hikes.
Spot gold fell 0.9 percent to $1,791.23 an ounce by 05:50 GMT, down from the more than five-month peak it hit on Tuesday. US gold futures fell 0.9 percent, to $1,802.10.
Powell said yesterday, Wednesday, that the US Central Bank will adopt more interest rate hikes next year, even though the US economy is sliding towards a possible recession, and he explained that the economy will incur a higher price if the Central Bank does not curb inflation strongly.
Christopher Wong, an analyst at VOCBCFX, said that the central bank's adherence to the tendency to tighten monetary policy is putting pressure on the metal, and that the gold price outlook depends on the amount of tightening that central banks, especially the US central bank, intend to do from now on.
[rtl]Related articles[/rtl]
[rtl][You must be registered and logged in to see this link.]
[ltr]05:00 | 2022-09-16[/ltr][/rtl]
[rtl][You must be registered and logged in to see this link.]
[ltr]00:50 | 2022-11-18[/ltr][/rtl]
[rtl][You must be registered and logged in to see this link.]
[ltr]02:37 | 2022-09-7[/ltr][/rtl]
Gold is known as a hedge against inflation, but high interest rates tend to weaken its attractiveness because it increases the opportunity cost of holding non-returnable metal.
The dollar index rose 0.1 percent. An increase in the dollar makes gold more expensive for overseas buyers.
As for other precious metals, silver fell 2.7 percent to $ 23.24 an ounce, platinum fell 1.1 percent to $ 1017.25, while palladium fell 0.7 percent to $ 1903.18.
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