Commodities
Gold Prices Poised for Biggest Monthly Gain Since February
Gold prices are poised to end July on a high note, with a projected gain of over 2.2% - its best monthly performance since February.
The upward trend in gold is largely attributed to geopolitical tensions in West Asia and the US Federal Reserve's decision to keep interest rates unchanged at its latest policy meeting, which has increased demand for safe-haven assets.
A drone strike on gas vessels at Egypt's Mediterranean port of Damietta has also contributed to the rise in gold prices, as it raised fears of an escalation in the US-Iran conflict and possible disruptions to shipping through the Suez Canal.