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Commodities

Gold Prices Slip Amid Strengthening Dollar, But Monthly Gain Looms

Guavy AI Editorial Team
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Gold
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Gold prices dropped on Friday as investors took profits and the US dollar strengthened, but the precious metal is still poised to post its first monthly gain in five months.

The US dollar index rose 0.35% to 100.23 after plummeting 2.4% on Thursday, marking its steepest one-day decline since January 2023.

According to the CME Group's FedWatch tool, markets are currently pricing in a 63% probability of an interest rate hike in September.

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