Gold Prices Fluctuate Amid Fed Uncertainty and Soaring Oil Prices

Gold prices continued to fluctuate around the $4,000 mark on July 24, as investors await the US Federal Reserve's (Fed) policy meeting next week.

The spot gold price fell by 0.03% to $4,046.88 per ounce at 3:20 PM Vietnam time, while August gold futures dropped by 0.03% to $4,049.02 per ounce.

Brent oil prices surpassed $100 per barrel for the first time since May, increasing concerns about inflation and interest rate prospects.

The market is expecting the Fed to keep interest rates unchanged at its meeting next week, with a 81% possibility of raising interest rates in September, according to the CME FedWatch Tool.