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خبرني
Gold approaches 10-week peak on US inflation forecast
Gold prices rose by approximately 0.9% to nearly $4,406 per ounce, supported by a decline in expectations for a US Federal Reserve interest rate hike, as investors awaited US inflation data that could influence monetary policy outlooks. Gold had regained its gains after posting its biggest weekly increase since January, boosted by weak US employment data. Market expectations for a rate hike in September were reduced from 60% to 50%. Additionally, upcoming inflation data could reshape interest rate forecasts. Meanwhile, other precious metals also increased, with silver rising by 1.2% to $65.46 per ounce.
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