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Gold Prices Decline, but July Is the Best Month Since February
The safe-haven asset ended the week down 2% as the U.S. dollar strengthened, rebounding from its lowest level in recent weeks. Despite the pullback, gold is on track to post its first monthly gain since February. It is currently trading at around $4,075 per ounce.
[Source: Market screener]
Fed Leaves Rates Unchanged: Gold Slips After Initial Rebound
The Federal Reserve has decided to keep interest rates unchanged, despite concerns about inflation. After an initial rebound, gold resumed its decline, weighed down by comments from the chairman of the U.S. central bank. Kevin Warsh reiterated the commitment to bring inflation toward the long-term target of 2%, despite the unchanged monetary policy. The safe-haven asset fell 0.4% to $4,047.20 per ounce.
{Source: Yahoo Finanza}
Fed Decision Due This Evening: Gold Edges Higher
Markets are focused on today’s Federal Reserve meeting. Gold prices continue their recovery, rising by 0.5% to $4,091 per ounce.
[Source: Teleborsa]
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