Gold Futures Slide Amid Uncertainty Over UN General Assembly Meeting

The UN General Assembly meeting's outcome remains uncertain, keeping gold futures in a bearish tone.

Despite reaching its 210th day, the US-Iran war has not been resolved, fueling stagflation fears and energy-driven inflationary pressure.

Federal Reserve officials signaled that rate hikes are far from over to curb persistent inflation, with traders now discounting a 70 per cent probability of another quarter-point rate hike at the Fed's October meeting.

The gold futures edged higher on Friday but remained on track for a weekly decline due to a strong U.S. dollar and expectations of further Federal Reserve rate hikes aimed at corralling inflation.