Dollar impacts gold's gains
Gold prices experienced their first monthly gains in five months, despite declining during Friday's trading session. The precious metal reached highs exceeding $4,000 per ounce this month, supported by strong buying momentum and increased investor interest as a safe haven. Both futures and spot gold fell by approximately 1% amid profit-taking pressures and a recovery in the US dollar, which rose by 0.3%, leading to reduced demand for gold from investors outside the United States. Despite the decline on Friday, gold is still on course to end July with a profit, driven by investment demand and global market volatility, even though expectations of interest rate hikes by the Federal Reserve in September 2026 persist.
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