Curse continues... Inflation is following us to 2023
Inflation led most of the banks in the world to raise interest rates, in an attempt to reduce it . The International Monetary Fund expects that the results of this attempt will appear after quite a while, and that inflation will decrease by the end of 2023 to 4.7%.
Gold prices rose at the end of the week, but are still on track to incur a loss for the second year in a row due to the US central bank raising interest rates.
As spot gold contracts rose by 0.2%, to trade at $1818.19 an ounce.
Gold futures rose by 0.10%, to trade at $1824.20 an ounce.
On the other hand, crude oil futures contracts decreased, as they fell by 0.20%, to be traded at $78.56 per barrel.
It was previously traded at a session low of $78.38 a barrel.
Wall Street closed higher by the end of trading on Thursday.
The Dow Jones Industrial Average rose by 1.05%, while the Standard & Poor's 500 Index rose by 1.75%, while the Nasdaq index advanced by 2.59%.
Thus, gains were recorded in the consumer services sector, consumer goods and the technology sector.
Inflation led most of the banks in the world to raise interest rates, in an attempt to reduce it . The International Monetary Fund expects that the results of this attempt will appear after quite a while, and that inflation will decrease by the end of 2023 to 4.7%.
Gold prices rose at the end of the week, but are still on track to incur a loss for the second year in a row due to the US central bank raising interest rates.As spot gold contracts rose by 0.2%, to trade at $1818.19 an ounce.Gold futures rose by 0.10%, to trade at $1824.20 an ounce.
On the other hand, crude oil futures contracts decreased, as they fell by 0.20%, to be traded at $78.56 per barrel.It was previously traded at a session low of $78.38 a barrel.
Wall Street closed higher by the end of trading on Thursday.The Dow Jones Industrial Average rose by 1.05%, while the Standard & Poor's 500 Index rose by 1.75%, while the Nasdaq index advanced by 2.59%.Thus, gains were recorded in the consumer services sector, consumer goods and the technology sector.