Gold Prices Decline Amid Anticipation of Higher US Interest Rates

Beirut:Gold prices experienced a decline during Wednesday's trading session, with the market heading for a potential monthly loss exceeding 6%. This movement is driven by strengthened expectations of higher US interest rates and investors awaiting forthcoming inflation data for insights into the Federal Reserve's monetary policy outlook. According to National news agency - Lebanon, the spot price of gold fell by 0.2%, reaching $4,170.63 per ounce. In contrast, gold futures saw an increase, rising by 0.5% to $4,201.90 per ounce. Investors continue to closely monitor economic indicators to anticipate potential shifts in monetary policy that could affect the gold market.