ASHARQ AL-AWSAT English·3 min read·hard
Gold Softens on Prospects of Fed Rate Hikes as Brent Tops $100
✦AI Summary
Gold prices declined as rising Brent crude costs fueled inflation concerns and expectations of Federal Reserve interest rate hikes. Investors are closely monitoring geopolitical tensions in the Middle East and upcoming central bank policy meetings.
Gold extended losses on Friday after falling 2% in the previous session, as Brent crude's move back above $100 a barrel stoked inflation concerns and strengthened the case for higher interest rates ahead of a Federal Reserve policy meeting next week.
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