Gold price below $4,000 reaches November minima

Pthey 13:05 ( Lisbon time), gold was falling 3.36% to 3,978.67 dollars per ounce.

The price of gold is being pressured by the expectation of an increase in US interest rates in the face of rising inflation, fuelled by the conflict in the Middle East.

This perspective makes US Treasury bonds and the dollar more attractive to investors, as they are refuge assets competing with gold.

The head of the Iranian diplomatic team, Mohammad Bagher Ghalibaf, said today that the memorandum of understanding reached between Tehran and Washington to end the war is a declaration of defeat for the United States.

“ Islamabad’s memorandum of understanding is not the result of pressure or coercion, but of the resistance and determination of the courageous Iranian nation,” Ghalibaf said at a conference in Baku, Azerbaijan, broadcast on Iranian television.

“That’s why Islamabad’s memorandum of understanding assumed the value of a declaration of defeat for the United States,” said Ghalibaf, head of the Iranian team in negotiations with Washington and President of Parliament.