Gold Prices Rebound as Investors Weigh Fed Signals Amid US-Iran Conflict

Gold prices are on track to end their four-month slump as investors weigh in on the Federal Reserve's signals and assess the impact of the US-Iran conflict.

The metal is headed for its first monthly gain in five, with spot gold inching 0.2% lower at $4,096.29 per ounce, but still up 1.1% for the week.

Markets are pricing in a 63% chance of a rate hike in September, down from about 80% prior to the Fed's latest policy meeting, according to CME Group's FedWatch tool.