Gold Falls Before Fed Speech
Global gold prices have declined, with the ounce dropping to levels not seen in over three months, due to investors awaiting the Federal Reserve Chairman's speech and potential signals regarding interest rate hikes. Spot transactions decreased by 0.5% to $4,576.30, while futures also fell to $4,629, with a 33.9% probability of a rate hike in September and 74% by December. This coincided with declines in other precious metals such as silver, palladium, and platinum, as investors monitor the future of monetary policies and their impact on financial markets.
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