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.