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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


    Gold is heading for a third weekly decline amid interest rate concerns

    Rocky
    Rocky
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    Gold is heading for a third weekly decline amid interest rate concerns Empty Gold is heading for a third weekly decline amid interest rate concerns

    Post by Rocky Fri 17 Feb 2023, 5:02 am

    [size=30]Gold is heading for a third weekly decline amid interest rate concerns
    [ltr]2023.02.17 - 11:53[/ltr]
    [/size]
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    Baghdad - Nas  
    Gold prices fell on Friday, on their way to record a decline for the third week in a row, as investors worried about the possibility of the US Federal Reserve raising interest rates after a series of strong economic data.  
      
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    And by 0548 GMT, gold in instant transactions fell 0.6 percent at $ 1827.09 an ounce, after earlier falling to its lowest level since early January.  
      
    The yellow metal has fallen 2 percent so far this week. US gold futures also fell 0.9 percent to $1,835.70.  
      
    Gold is a hedge against inflation, but higher interest rates increase the opportunity cost of holding non-yielding bullion.  
      
    Ilya Spivak, head of global macroeconomics at TastyLife, said this week's data showing strong retail sales and rising US consumer prices "seems to be fueling a reassessment...Markets think the Fed is going to tighten further, and that's bad." Too much for gold.  
      
    Several Fed officials stressed this week that monetary tightening must continue to bring inflation down to the 2% target.  
      
    Markets now expect interest rates to reach more than 5 percent by May and to stay at those levels throughout the year.  
      
    As for other precious metals, spot silver fell 0.7 percent to $21.45 an ounce. Platinum also fell 0.4 percent at $916.93, and palladium fell 1.3 percent to $1,491.38.  
      
    Quoted from "Sky News Arabia"  
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