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Commodities

Gold Prices Slip as Dollar Strengthens Amid Rate Hike Expectations

Guavy AI Editorial Team
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Gold
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Gold prices declined on Friday as investors took profits and the US dollar strengthened. The precious metal remains on track to post its first monthly gain in five months, however.

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

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

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