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Gold prices increase by 0.7% to $4,030 per ounce

Gold prices increase by 0.7% to $4,030 per ounce

Gold prices rose by 0.7% to $4,030 per ounce after settling at their lowest level since early July. Meanwhile, investors are awaiting U.S. inflation data that could influence expectations for interest rate hikes. The yellow metal recovered after a 3% decline in the previous session, which was driven by escalating tensions between the United States and Iran, as well as rising oil prices. Investors are anticipating the release of June's U.S. Consumer Price Index data and other developments related to monetary policy in the coming months.

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