Gold gains as rate hike expectations fall
Gold prices rose in Asian markets, reaching their highest level since June of last year, following a decline in expectations of an interest rate hike in the United States and the impact of weak economic data on the dollar. This combination boosted the appeal of the precious metal. Spot gold increased by 1.4% to $4,179.94 per ounce, while August US futures rose by 1.6% to $4,193.20, marking a weekly gain of 2.3%. Silver also saw a rise of 2.3%, reaching $62.43, and platinum increased by 2.7% to $1,660.05. Palladium went up by 1.3% to $1,284.40.
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