Gold falls as US rate hike doubts rise

Gold prices decreased by 0.4% to reach $4,436.04 per ounce, marking the lowest level since mid-August. This followed hawkish statements from the Federal Reserve Chair, which increased expectations of a U.S. interest rate hike before the end of the year. The gold market was forced to shift due to the possibility of a rate increase at the September meeting, with the probability rising to 60%. Previously, prices benefited from concerns over currency devaluation and rising inflation. Despite today's daily decline, gold remains up more than 10% this month, recording one of its best performances since January.

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