Global gold set to end four-month slide
Gold is on track to end a four-month decline, approaching its first monthly gain in five months, as investors assess the impacts of the Iran conflict and analyze signals from the Federal Reserve regarding inflation and interest rates. The spot price of gold decreased by 0.2% to approximately $4,096 per ounce, but it is set to achieve a weekly increase of 1.1%, while U.S. futures contracts rose by 0.1%. The market now assigns a 63% probability of a rate hike in September, down from 80% before the last monetary policy meeting. The price of silver remained steady at $58.98, while platinum fell by 1.3% to $1,638.97, and palladium decreased by 0.2% to $1,301.94.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)