Gold prices have fallen below $5,000 an ounce
Photo - M.A.N.
Gold prices fell on Wednesday amid anticipation of a U.S. decision to keep interest rates unchanged.
The yellow metal fell by about 0.8 percent to $4,967 per ounce by 11:30 a.m. GMT.
This decline in the safest asset comes amid anticipation of the U.S. Federal Reserve’s interest rate decision, with estimates suggesting rates will remain within the 3.5% to 3.75% range for the second meeting.
Global markets are experiencing significant volatility as a result of the U.S.-Iran conflict, which has contributed to rising oil prices and inflation.
The conflict, which began on February 28, has claimed the lives of hundreds of people in Iran, including Supreme Leader Ali Khamenei and security officials, while Tehran has responded by launching missiles and drones toward Israel.
Iran is also targeting what it claims are U.S. sites and interests in Arab countries, though some attacks have resulted in deaths and injuries and caused damage to civilian property, which the targeted countries have condemned
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