Manama:Gold prices experienced a decline on Thursday, reaching their lowest point in over a week. This drop followed stronger-than-expected US inflation data and hawkish comments from Federal Reserve officials, which bolstered the US dollar and reinforced the anticipation of an interest rate hike in the upcoming month.
According to Bahrain News Agency, spot gold decreased by 0.2%, settling at $3,977.99 per ounce by 0506 GMT. Earlier, it had hit its lowest level since November 4.
In contrast to gold, spot palladium saw an increase of 0.5% to $1,032.63 per ounce on Wednesday, marking its highest level since October 22.