Gold prices fall more than $ 22

Gold prices fell in trading today on the eve of a sharp rise in US bank interest rates to counter inflationary pressures and a sharp rise in the value of US bonds.

Gold traded down $ 22.35 an ounce in global markets at $ 1874.58.

Stephen انسThe market is worried that the Federal Reserve may raise interest rates by 0.50% now and 0.75% in July for interest rates, said the market analyst.

The Federal Reserve’s free market committee will begin its two-day meeting tomorrow and announce the results the next day.

Federal Reserve policymakers are set to implement a series of interest rate hikes at least until the summer to counter rising inflation and rising labor costs.

The value of 10-year US Treasury bonds has reached a record high in recent years, reducing demand for gold.

Rising interest rates increase the value of bonds and the cost of holding interest-free gold. Gold is also seen as a safe source of investment in times of economic and political instability.

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