Gold futures rose $7.2, or 0.4 percent, to $1,981.5 an ounce. A World Bank report predicted global GDP growth of about 2.1 percent in 2023, lower than in 2022 of 3.1 percent.
The World Bank estimates that 14 of the 28 low-income countries are in debt distress or at high risk of debt distress. The bank also warned that rising borrowing costs in rich countries including America, where interest rates exceeded 5 percent for the first time in 15 years, were additional headwinds for the world's poorest economies.
Source (CNBC Arabic Website, Edited)
