The price of gold slipped by 0.5% on Monday due to renewed US, Iran tensions and increased bets on a September rate hike by the Federal Reserve.
Fed Chairman Kevin Warsh has vowed to fight inflation, with futures now pricing in over a 60% chance of a September rate hike.
Nicky Shiels from MKS PAMP expects debasement-driven support for gold into September, affecting near-term project financing assumptions.
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