The Federal Reserve is expected to maintain current interest rates in the near term despite the inflationary pressure from energy markets. The downturn also affected local markets in Egypt, where the price of 21 karat gold fell by 35 Egyptian pounds. Market participants continue to weigh the impact of geopolitical risks against the stability of U.S. monetary policy.
Friday, October 23, 2026
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Spot Gold Hits Two Month Low of $4,063.86 on Inflation Fears
Commodities21 hours ago
Bullion prices plunged to their deepest level in over eight weeks as escalating conflict in the Middle East and a rally in oil prices heightened market volatility. Spot gold dropped nearly 2% to $4,063.86 per ounce on October 22, marking a two month low and extending a downward trend that has lasted for four consecutive sessions. Investors are increasingly concerned that rising energy costs will stoke global inflation, a factor currently overshadowing gold's typical appeal as a hedge.
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