The price of gold was subjected to strong declines over a period of 7 consecutive months since it has almost recorded its highest level ever at $ 2070 per ounce, but November witnessed a price uprising for gold in response to the landing and strong pressure, so he jumped about 170 dollars in the past ten sessions, and approached the highest level He has 3 months and was then at 1808 dollars.
These consecutive monthly declines came due to the Federal Reserve’s movements by increasing interest rates in a hostile manner by 75 basis points to fight accelerated inflation.
The markets are currently calculating 50 basis points instead of 75 points, as an increase in the interest rate at the last meeting of the Federal in December, and therefore we will see whether the yellow metal will continue to compensate for its losses in the last month of the year.
As for the currency front, the euro benefited from the decline of the dollar and restored its large losses that incurred it over a year and a half since its last summit was recorded at 1. 2250 levels, then he entered in a long descending direction and reached the last hall at 0. 9537 levels last September.
There is no doubt that the prices of energy and Ukrainian war and raise interest rates on the dollar and other factors have pressed the euro significantly with the registration of the September bottom and broken the tie price with the dollar over a period American inflation data, is currently approaching its highest price for about 4 months..
About Author
