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Forex

Gold Tumbles as Rate Hike Expectations Surge in September

Guavy AI Editorial Team
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EUR USD
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Gold prices fell in European trading on Monday, extending losses for a second consecutive day after strong US employment data increased expectations for a US interest rate hike in September.

The price of gold dropped 1.0% to $4,385.34 from an opening level of $4,430.18, reaching a session high of $4,435.24.

The US dollar index fell around 0.2% on Monday, resuming losses that had temporarily stalled in the previous session and reflecting renewed weakness in the US currency against a basket of global currencies.

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