Gold Market Sees Rare 5-Month Event

Gold price is approaching its first positive monthly close in five months, as the precious metal aims to gain more than 2.2% in July, amid investor anticipation of the effects of the US-Iran conflict and signals from the Federal Reserve regarding inflation and interest rates. Spot gold fell by 0.2% to $4,096.29 per ounce but is on track for a weekly increase of 1.1%. Market expectations suggest a 63% chance of a rate hike in September, down from previous forecasts.

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