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Gold prices hold near three-month highs
Gold prices settled near their highest levels in over three months, after reaching the highest point since May during the session, with the upward momentum experiencing some pullback ahead of this week's US inflation data. The spot gold price declined to $4,652.26 per ounce, while futures rose to $4,709.40. This reflects investors' expectations regarding the US Federal Reserve's decision, with the likelihood of a rate hike decreasing to 38% in September. Meanwhile, the market is closely watching US inflation data to analyze the trajectory of monetary policy. Additionally, silver, platinum, and palladium prices declined sequentially, amid increased Chinese gold imports and rising investment demand.
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