Gold climbed to USD 4,450 per troy ounce, the highest since early June, before slipping back to USD 4,320. The move left the metal up as much as 10% since the start of the month, as markets pared expectations for further US monetary tightening.<\/p>\n
Fed Funds futures at the end of July implied a year-end policy rate of 4%, but that pricing has eased to 3.86%, meaning 14 basis points of previously anticipated hikes have been removed.<\/p>\n
Separately, Bloomberg data show gold ETFs recorded inflows for six consecutive trading days, the longest uninterrupted run since April, with purchases totalling almost 21 tons.<\/p>\n\n\n\n