2023-09-22 06:34:50
Gold futures rose by regarding 0.2% to $1,943.8 per ounce
Gold prices recorded an increase today, Friday, despite the strength of the dollar and the rise in US Treasury bond yields, but they are heading towards recording weekly losses.
Gold futures rose by regarding 0.2%, to $1,943.8 per ounce, following witnessing their largest daily decline since September 5, yesterday, Thursday.
At the same time, the dollar stabilized near its highest levels in 6 months, amid expectations that interest rates would remain at high levels for a longer period in the United States, while ten-year US Treasury bond yields rose to the highest level in 16 years.
Over the course of this week, a number of central banks around the world, led by the US Central Bank and the Bank of England, kept the interest rate unchanged.
Meanwhile, markets expect the Federal Reserve to raise interest rates once more before the end of this year.
Investors usually buy gold as a hedge during times of economic uncertainty, but high interest rates affect the prices of bullion, which does not generate returns and is priced in dollars.
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