Gold set for first monthly rise since February
The dollar has declined against a basket of currencies, which supported gold prices that approached the $4,080 per ounce level, on track to achieve a monthly gain of approximately 2% for the first time since February. This comes amid continued expectations that the Federal Reserve will keep interest rates unchanged, despite a divided vote on the need to raise them in the future. Additionally, the Bank of Japan's intervention to support the yen played a role in making gold cheaper for international buyers, boosting the market after a decline of more than one-fifth since the start of the war between the United States and Iran, amid ongoing inflationary pressures resulting from rising energy prices.
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