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Gold records a weekly loss as geopolitical risks ease

Gold Prices Record a weekly loss
Gold Prices Record a weekly loss
Gold prices maintained their gains during the session on Friday, April 26, after data showed that inflation in the United States rose in line with expectations, but the metal, which is considered a safe haven, achieved a weekly decline with some geopolitical risk premiums declining.
Gold rose in instant transactions by 0.3% to $2,339 per ounce. However, prices were on the verge of recording their worst week since December after avoiding a major escalation in the Middle East crisis. US gold futures rose 0.4% upon settlement to $2,351.

Market Analysts say the data still suggests "stubborn inflation is likely to persist, but gold's reaction suggests markets have already priced in that".
Gold's path depends "on the general trend of risk assets and the volume of buying from the Far East." “I expect a consolidation phase of $2,300 to $2,400 in the short term,” one market expert said.
Markets initially expected the first US interest rate cut to take place in March, then June, and now September amid strong national economic data.
Ultimately, gold is a traditional hedge against inflation. High-interest rates reduce the attractiveness of holding non-yielding bullion.
باحث اقتصادي هدفي إنشاء موسوعة عن الدول العربية توضح جوانب القوة في كل دولة، واتمني أن يأتي اليوم الذي يتحد فيه العرب لتعم الفائدة علي كل الشعوب.


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