Gold Prices Hit Seven-Week High Amid Hormuz Framework Optimism
Spot gold prices reached a seven-week high of $4,304.15 on Thursday, up 6% on the week and 4.20% on the month.
The September rate-hike odds fell to 55%, down from 67%, as the Hormuz framework pushed crude to three-week lows.
Central banks bought a record 289 tonnes of gold in Q2, up 62%, while gold ETFs shed 45 tonnes.