Gold set for first monthly rise in five months as July gain tops 2.2%; silver dips
AI Market Summary
Gold is set for its first monthly gain in five months as West Asia geopolitical risk lifts safe-haven demand and markets price a lower probability of a September Fed hike after rates were left unchanged. Softer US inflation data further supports bullion via reduced real-rate pressure, though a firmer dollar is a near-term headwind. Silver eased alongside muted Friday trading.
Impact level
● High
Affected assets
NCCOGOLD2USD/USDT-1.72%
AI Insight · NCCOGOLD2USD/USDTAI Insight
▲ Bullish
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Gold is up more than 2.2% in July, putting it on track for its first monthly gain in nearly five months. Spot gold was at $4,096.29 an ounce, while US gold futures inched up to $4,094.10 and COMEX gold futures stood at $4,144.40. COMEX silver futures slipped 0.22% to $58.89. Prices have been supported by escalating West Asia tensions and a cooling in expectations for a US rate hike, with the implied probability of a September move falling from about 80% to 63%.
