On the 20th day of the American-Israeli war on Iran, U.S. stocks fell at the close of Wednesday’s trading as oil prices returned to rise. Gold also continued its decline in the spot market following the U.S. Central Bank’s recent decision on monetary policy, recording its lowest level in more than a month due to the rise in the dollar’s value and expectations that interest rates will remain high for a longer period in light of the war on Iran.
Spot gold fell by more than 3% to $4,844.15 per ounce, after hitting its lowest level since February 6 earlier in the session. However, officials indicated the possibility of cutting interest rates once before the end of the year, as was expected before the outbreak of the war, while Chairman Jerome Powell noted that these forecasts might be less valuable than usual due to the level of uncertainty regarding inflation and the economy.
