GK and monthly revision

Gold extends losses on Fed tightening outlook, dollar strength

Gold prices fell to a seven-month low of $3,985 per ounce on Thursday, driven by a strong dollar and expectations of Federal Reserve interest rate hikes. Traders are anticipating multiple rate increases this year, with a notable possibility of a hike in September. This trend is significant as it reflects the broader implications for global markets and inflation, influencing investment strategies and economic stability.