Gold falls 1% ahead of recovery

Gold prices declined by 1% during recent trading, but are on track to achieve their first monthly gain in five months, supported by investor buying near the $4,000 per ounce level despite the strength of the dollar. This comes amid evaluations of the impact of Middle Eastern developments on U.S. interest rate forecasts, as gold remains a hedge against inflation, though rising interest rates reduce its attractiveness. At the same time, investors are closely monitoring the Federal Reserve's decision, with a 65% likelihood of rate hike in September, amid escalating geopolitical tensions that boost demand for gold as a safe haven.

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