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Gold Likely to Post First Monthly Rise in Five Months
Gold is preparing to achieve its first monthly gain in five months, rising as investors assess the impact of tensions between the United States and Iran and await Federal Reserve signals regarding inflation and interest rates. Despite falling today by 0.2% to around $4,096 an ounce, it is on track for a weekly increase of 1.1%. Market expectations now suggest a 63% chance of a rate hike in September, down from 80% prior to the last meeting. Meanwhile, other precious metals such as silver remained stable, while platinum and palladium declined amid expectations of increased volatility in the financial markets.
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