Global Ounce Drops 2.5%, Ending Monthly Winning Streak

Posted 3 hours ago by

Sada Elbalad

Gold prices in local markets recorded a slight increase during Saturday's trading, coinciding with the global stock market holiday. This follows a global decline in the gold ounce, which saw a weekly loss of approximately 2.5, ending a four-week consecutive rally. This performance comes amid escalating fears of inflationary pressures resulting from high oil prices, which bolstered the dollar and pushed bond yields higher, according to the Marsad Al Dahab report for economic studies.