Gold hits 3-month peak amid dollar dip

Gold prices continued to rise for the third consecutive month, reaching their highest level since May. Investors are closely watching US inflation data and the Federal Reserve Chairman's speech regarding interest rate expectations. Spot prices increased by 0.7% to $4,636.34 per ounce, while US futures also rose to $4,694.80, the highest since May. The market remains focused on the July Personal Consumption Expenditures (PCE) index and the Fed Chair's remarks, with predictions that gold prices could exceed $4,900 by the end of the year. Demand is increasing as a safe haven amid geopolitical tensions and a weakening dollar.

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