Gold climbs to $4,400 amid rising demand
Gold prices rose to $4,400 per ounce, supported by decreased expectations for a U.S. interest rate hike after recent weak jobs data, which reduced the chances of a rate increase in September from around 60% to about 50%. Markets are also awaiting upcoming inflation data, with forecasts indicating a 0.1% rise in the Consumer Price Index in July, which could solidify rates and boost gold's appeal as a safe haven. Other precious metals also benefited from global tensions, with silver climbing to $65.30, and gemstones like palladium and platinum gaining amid fears of escalating tensions in the Middle East.
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