Gold continued the wave of decline, to record the yellow metal’s fourth weekly loss last week, despite the stability of futures contracts at the end of trading, the day before yesterday, with markets assessing the possibilities of monetary tightening in the United States, as well as assessing the prospects for Chinese growth, in light of the real estate sector turmoil. .
The yellow metal contracts for December delivery settled at the level of 1916.5 dollars an ounce at the end of the weekend session, the day before yesterday, but it recorded a weekly loss of about 1.5%.
The Fed Watch estimates that markets expect the Fed to maintain the current interest rate range of 5.25% to 5.5% until the end of this year.
The markets are awaiting the statements that Federal Reserve Chairman Jerome Powell will make regarding his economic vision on the 25th of this month, during the meeting of central bankers in Jackson Hole.
The Chinese “Evergrande” applied for bankruptcy protection in the United States, amid ongoing debt restructuring procedures in Hong Kong and the Cayman Islands, in light of the country’s real estate sector crisis.
2023-08-19 22:04:27
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