Gold prices fell on Friday, on track for a third consecutive week of declines, as investors worried about the possibility of the Federal Reserve raising interest rates after a series of strong economic data.<\/p>\n\n\n\n
Spot gold fell 0.6 percent at $1,827.09 an ounce, after earlier falling to its lowest since early January. The yellow metal has fallen 2 percent so far this week. US gold futures also fell 0.9 percent to $1,835.70.<\/p>\n\n\n\n
Gold is a hedge against inflation, but higher interest rates increase the opportunity cost of holding non-yielding bullion.<\/p>\n\n\n\n
Several Federal Reserve officials stressed this week that monetary tightening must continue to bring inflation down to the 2 percent target.<\/p>\n\n\n\n
Markets now expect interest rates to reach more than 5 percent by May and to stay at those levels throughout the year.<\/p>\n\n\n\n
As for other precious metals, spot silver fell 0.7 percent to $21.45 an ounce. Platinum also fell 0.4 percent at $916.93, and palladium fell 1.3 percent to $1,491.38.<\/p>\n","protected":false},"excerpt":{"rendered":"
Gold prices fell on Friday, on track for a third consecutive week of declines, as investors worried about the possibility of the Federal Reserve raising interest rates after a series of strong economic data. Spot gold fell 0.6 percent at $1,827.09 an ounce, after earlier falling to its lowest since early January. The yellow metal …<\/p>\n","protected":false},"author":9,"featured_media":71492,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7603,9831,9586],"class_list":["post-80188","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-gold-prices","tag-inverted-yield-curve","tag-recession-concerns"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80188","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=80188"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80188\/revisions"}],"predecessor-version":[{"id":80189,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/80188\/revisions\/80189"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/71492"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=80188"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=80188"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=80188"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}