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Gold Likely to Drop as US Inflation Data Nears
Gold prices continue to decline on a monthly basis due to expectations of an interest rate hike by the U.S. Federal Reserve, with losses reaching 6% so far this month. Its price remains steady at approximately $4,180 per ounce. Investors are awaiting the release of the U.S. Personal Consumption Expenditures (PCE) index data, which will influence the Federal Reserve's monetary policy direction, with the possibility of interest rate increases in October or December. The rising dollar makes gold more expensive, while higher interest rates reduce its attractiveness. It is expected that the upcoming economic data will determine the price trajectory in the coming period.
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