Eldorado Gold Stock Drops Nearly 13% as Gold Falls Below $4,000

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3▲0 ▼2Impact / 5
Summary · why it matters

Eldorado Gold shares fell almost 13% this week as gold prices declined below $4,000 per ounce for the first time since late last year. Growing expectations that the Federal Reserve will raise interest rates to combat persistent inflation reduced the appeal of non-yielding assets like gold. Progress in U.S.-Iran negotiations to end the conflict also diminished demand for safe-haven investments. The gold price later bounced back above $4,000, lifting Eldorado's stock, but the bear run may not be over.

Impact on assets 2

Critical Materials & Supply Chain▼ · 1 stocks
Eldorado Gold Corp
EGO
▼ NegativeMonetaryrelevance

Gold price fell on Fed rate hike expectations, reducing appeal of gold and dragging Eldorado stock down.

Others▼ · 1 stocks
⛏Gold Futures
GOLD
▼ NegativeMonetaryrelevance

Gold futures declined as Fed rate hike expectations reduced appeal of non-yielding assets.

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