Gold faces 6% monthly fall at $4,170
Gold prices declined by 0.2% to reach $4,170 per ounce, heading toward a monthly loss of 6% due to expectations of a U.S. interest rate hike and anticipation of inflation data. This decline reflects the pressure from a rising dollar, which makes gold more expensive for investors, as the upcoming Personal Consumption Expenditures (PCE) index results are expected to influence U.S. monetary policy outlooks. Additionally, higher interest rates reduce gold's attractiveness since it yields no interest, with market expectations pointing to potential increases in October and December. As for other precious metals, silver fell by 0.8% to $60.98, with forecasts suggesting ongoing monthly declines.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)