Gold dips below $4,030 amid inflation worries
Gold price expectations decline amid concerns over rising inflation and interest rates, as gold fell in Friday's trading to around $4,030 per ounce, down more than $130 from a two-week high. The surge in oil prices, especially Brent crude which exceeded $100, has heightened inflation worries and applied pressure on interest rates, with markets closely monitoring the Federal Reserve's upcoming meeting, where it is expected to either hold rates steady or increase them in September. Despite the drop, gold remains within the range of $3,980 to $4,170, and further volatility is anticipated in the coming period.
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