Gold Gains Driven by U.S. Rates

Gold prices continued to rise for the third consecutive session, benefiting from a decline in expectations of an interest rate hike by the U.S. Federal Reserve and a weakening dollar. The spot price of gold increased by 0.2% to approximately $4,424.28 per ounce, amid investor anticipation for the upcoming release of the Federal Reserve's meeting minutes, which may clarify the central bank's intention to keep interest rates unchanged until the end of the year. The rise in gold is also supported by increased demand for safe-haven assets due to geopolitical tensions in the Middle East, along with the decline in the dollar's value, making the precious metal more attractive to international buyers. The movement of gold combines reduced interest rate expectations with increased demand for safe assets, reinforcing the short-term upward trend of gold.

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