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Gold Falls 1% Amid Dollar Rise
Global gold prices declined by 0.98% to approximately $4,122.73 per ounce, due to the rise in the US dollar, which increased the cost of gold for investors holding other currencies. This comes amid investor anticipation for the Federal Reserve's September meeting minutes, as they assess the possibility of continuing to raise or hold interest rates steady, with an 86% expectation of a rate hike in December. Regarding forecasts, experts expect the price of gold to reach $5,013 per ounce by 2027, while the Chinese central bank has intensified its gold purchases for the twenty-third consecutive month.
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