Inflation and interest rates put pressure on global markets

Wall Street’s major stock indexes closed lower in the last session of August; while world oil prices have fallen as China imposed more restrictions to prevent the COVID-19 epidemic.

World gold prices went down in the 31/8 session, contributing to the longest monthly decline since 2018. The main factor causing pressure is the sharp rate hikes by the world’s major central banks.

This session, the price of GOLD futures for December 2022 of the US decreased by 0.6% to $1,726.2 per ounce.

For the whole month, the price of this precious metal has lost 3.1%, marking the 5th consecutive month of decline.