Gold gains for fourth straight session

Gold prices have risen for the fourth consecutive session, supported by decreased fears of monetary tightening in the United States following the signing of an initial agreement between Washington and Tehran to end the conflict. This has led to a reduction in the likelihood of a US interest rate hike to around 57%, compared to 70% last week. The spot price of gold increased by 0.4%, reaching $4,322.99 per ounce, after a 3.6% jump on Monday's session. Meanwhile, August futures contracts declined by 0.2% to $4,343.50. The market is closely watching the upcoming Federal Reserve meeting, where it is expected that interest rates will be maintained. Additionally, a hint from the Federal Reserve Chair could influence the dollar's movement and gold prices.

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