July 31 (Reuters) – Gold was headed for its first monthly gain in five on Friday, as investors assessed the impact of the U.S.-Iran conflict \u200cand parsed the Federal Reserve’s signals for clues on inflation and the \u200cpath for interest rates. <\/p>\n
FUNDAMENTALS <\/p>\n
* Spot gold inched 0.2% lower at $4,096.29 per ounce, as of 0107 GMT, \u200bbut was headed for a weekly rise of 1.1%. U.S. gold futures for August delivery gained 0.1% to $4,094.10. <\/p>\n
* The metal was on track to gain more than 2.2% this month, its sharpest gain since February. <\/p>\n
* Spot gold rose 2% on Wednesday, after the \u200cFed left interest unchanged at \u2060its latest policy meeting, and Chairman Kevin Warsh gave little indication on the central bank’s next policy move. <\/p>\n
* Markets are now pricing \u2060in a 63% chance of a rate hike in September, down from about 80% prior to the policy meeting, according to CME Group’s FedWatch tool. [FEDWATCH] <\/p>\n
* The dollar gained about \u200b0.3%, after \u200bdiving 2.4% in its biggest single-day drop \u200bsince January 2023 on Thursday. [USD\/] <\/p>\n
* A \u200cdrone strike on gas vessels in Egypt’s Mediterranean port of Damietta signalled a potential new front in the U.S.-Iran war, raising the prospect of threats to navigation through the Suez Canal, one of the last remaining export routes for Saudi oil. <\/p>\n
* U.S. inflation slowed in June, with the Personal Consumption Expenditures Price Index slipping 0.1% \u200con a month-over-month basis, the weakest reading since \u200bApril 2020, but the easing is likely to \u200bbe temporary as renewed hostilities in \u200bthe Middle East raise oil prices. <\/p>\n
* Global gold demand was steady \u200cyear-on-year at 1,268.9 metric tons in \u200bthe second quarter of \u200b2026 as central banks sped up purchases, offsetting a slump in investment, the World Gold Council said on Thursday. <\/p>\n
* Spot silver held steady at $58.98 per \u200bounce, platinum slid 1.3% \u200cto $1,638.97, and palladium fell 0.2% to $1,301.94. <\/p>\n
DATA\/EVENTS (GMT) <\/p>\n
0600 UK Nationwide house price mm, yy Jul <\/p>\n
0900 EU HICP Flash YY Jul <\/p>\n
0900 EU HICP-X \u200bF, E, A, T Flash YY, MM Jul <\/p>\n
1200 US U Mich Sentiment Final <\/p>\n
(Reporting by Pablo \u200bSinha in Bengaluru; Editing by Mrigank Dhaniwala) <\/p>\n","protected":false},"excerpt":{"rendered":"July 31 (Reuters) – Gold was headed for its first monthly gain in five on Friday, as investors…\n","protected":false},"author":2,"featured_media":567947,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[4318,42,118946,43,16540,40,38,41,39],"class_list":["post-567946","post","type-post","status-publish","format-standard","has-post-thumbnail","category-headlines","tag-federal-reserve","tag-headlines","tag-kevin-warsh","tag-news","tag-spot-gold","tag-top-news","tag-top-stories","tag-topnews","tag-topstories"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/567946","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=567946"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/567946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/567947"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=567946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=567946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=567946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}