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سرايا الإخبارية
Gold reaches three-month high amid US data expectations
Gold prices rose on Monday to reach their highest level in more than three months, amid investor anticipation of U.S. inflation data and a speech by the Federal Reserve Chair. Spot gold increased by 0.7% to $4,636.34 per ounce, the highest since May 15, while U.S. futures climbed 0.3% to $4,694.80. The rise is attributed to the weakness of the U.S. dollar, which boosted demand for gold, especially as market expectations of rising prices persist and new American sanctions on Iran have failed to diminish gold’s appeal as a safe haven. Additionally, demand from official sectors—such as Poland’s gold reserves, which increased to 640.2 tons—supports the price gains. With the market awaiting the release of the Personal Consumption Expenditures (PCE) inflation data and the Fed’s speech, gold prices could surpass major bank forecasts and reach $4,900 by the end of the year.
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