Gold Gains Amid US Rate Hopes
Gold prices rose slightly as investors awaited U.S. employment data and potential talks with Iran, amid a cautious mood ahead of economic indicators that could influence the trajectory of U.S. interest rates. The price of gold reached approximately $4,060 per ounce, with expectations of a possible rate hike by the Federal Reserve, currently viewed at a 65% probability in September. Meanwhile, tensions with Iran are supporting energy prices and fueling inflation fears. Although markets anticipate that gold will remain supported as a safe haven, rising interest rates are reducing its attractiveness. Nonetheless, there are forecasts that gold prices will continue to rise to around $4,500 per ounce in the fourth quarter of the year.
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