Record high, stability and decline… gold in a week
Different levels achieved by Goldlast week went between a record high, then stability and decline.
Gold continued its decline yesterday, after positive economic data reduced expectations of an imminent reduction in US interest rates, and the decline of geopolitical turmoil contributed to reducing demand for safe haven assets.
Gold fell in spot transactions (0.4%) to ($4598.52) per ounce.
Prices Gold
And the end of the week Gold stabilized today after falling nearly (1%) earlier in the session, with investors awaiting the situation in Iran and Greenland.
Gold stabilized in spot transactions at ($4,619.54) per ounce, and US gold futures contracts for February delivery fell (0.3%) at ($4,623.80).
And in the middle of the week, it recorded Gold prices rose to a record high, while US inflation data supported bets on a cut in US interest rates this year.
Spot gold rose 0.4% to $4,609.69 an ounce after hitting a record high of $4,634.33 earlier in the session, while US gold futures for February delivery rose 1.0% to $4,617.90.
Early last week, gold prices exceeded $4,600 per ounce for the first time, as investors bought safe assets in light of escalating geopolitical tensions and allegations of political influence on Federal Reserve Chairman Jerome Powell.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
