Gold Gains Ahead of Fed remarks

Gold prices rose gradually today, Thursday, driven by concerns over the erosion of the dollar's value and anticipation of remarks from the U.S. Federal Reserve Chairman regarding the path of monetary policy. Spot gold increased by 0.6% to approximately $4,619 per ounce, while U.S. futures contracts rose by 0.4% to around $4,674, amid expectations of a possible rate hike in September or December. However, the market is awaiting Waller's speech for clearer signals. Gold remains a safe haven despite rising interest rates, with expectations it will stay between $4,500 and $4,700 before surpassing the $4,700 level.

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