14.4 C
Qādiān
Friday, February 7, 2025

Reshaping Perspectives and Catalyzing Diplomatic Evolution

Gold prices fell 2%, and the markets are awaiting the US Central Bank’s decision on interest rates

Gold prices fell 2% today, Tuesday, with a significant rise in Treasury yields, and the easing of concerns about the banking crisis prompted some investors to return to higher-risk assets while markets await the Federal Reserve’s (US Central Bank) next decision on interest rates.

And gold fell in spot transactions 2.1% to 1938.19 dollars an ounce (ounce) by 1731 GMT. US gold futures also fell 2.1%, to reach $1941.10 upon settlement. The precious metal recorded $ 2009.59 yesterday, the highest level since March 2022, but it has been declining since then, according to Reuters.

Trading in riskier assets, including stocks and oil, recovered after the Credit Suisse bailout eased fears of a bigger banking crisis. This made gold, traditionally considered a safe-haven asset during financial instability, less attractive.

Reuters said that attention is now turning to the results of the US Central Bank meeting, and observers expect that the bank will refrain from approving a new increase in interest rates.

With regard to other precious metals, silver fell in spot transactions by 1.2% to $22.25 an ounce, and platinum fell 2% to $968.73. Palladium fell 1.7% to $1,391.14.

More

Follow The Eastern Herald on Google News. Show your support if you like our work.

Author

Arab Desk
Arab Desk
The Eastern Herald’s Arab Desk validates the stories published under this byline. That includes editorials, news stories, letters to the editor, and multimedia features on easternherald.com.

Editor's Picks

Trending Stories

Laurita Fernandez poses totally nude on her back in her Instagram

Laurita Fernandez is one of the most talented dancers...

Israel on high alert for potential Tsunami following Santorini earthquakes

Israeli authorities have issued precautionary measures following a series...

Prostitution in Dubai: Understanding the Dark Side of the City

Dubai, a city celebrated for its lavish shopping experiences,...

How Online Casino Games in Eastern Countries & the US Differ

Gambling has been a staple of cultures around the...