TodayThursday, July 09, 2026

Fluctuations in gold prices, with lingering concerns over US debt

May 12, 2023

“Gold has seen some stability here this morning, with some buying after the decline,” said Bob Haberkorn, chief market analyst at (RGO Futures).

However, the yellow metal has retreated again and is poised for a slight weekly decline.

price movements

Spot gold fell 0.18% to $2,012.32 an ounce at 4:44 p.m. GMT.

US gold futures also fell 0.25% to $2015.50.

Gold has closed lower in the past two sessions as the rival safe-haven dollar hit a one-week high, making bullion less attractive to buyers holding other currencies.

US Treasury Secretary Janet Yellen said there was still uncertainty about when the cash needed to pay down public debt would run out, and the date could be June 1.

Gold typically makes gains during times of economic or financial uncertainty.

Read the Latest World News Today on The Eastern Herald.

Arab Desk

Arab Desk

The Arab Desk leads The Eastern Herald's reporting on the Middle East and North Africa. The desk has covered the Gaza-Israel war since October 2023, the Iran-Israel war of 2025-2026, the fall of the Assad government in Syria, Hezbollah's political and military shifts in Lebanon, the war in Yemen, and the diplomatic realignment of the Gulf states under the Abraham Accords and the Saudi-Iranian rapprochement.

Leave a Reply

Don't Miss