Tag 'gold market'

Gold Takes a Breather in Week 3 of May 2024

Global gold prices dropped by $80, settling at $2,334.2 per ounce, influenced by the Fed's concerns about prolonged inflation. India boosted its gold purchases, contrasting with Western investors selling gold ETFs. Local 21-carat gold prices fell to 3,140 EGP/gram.

Gold prices hit record highs as investors seek a safe haven amidst global economic uncertainty and geopolitical tensions. Analysts debate the driving factors behind the surge.