Gold set to end four-month slump

Gold is on track today, Friday, to post its first monthly gain in five months, as investors assess the impact of the conflict between the United States and Iran and analyze signals from the Federal Reserve (the US central bank) in search of indicators regarding inflation and the interest rate trajectory. Spot gold fell 0.2 percent to $4,096.29 per ounce by 0107 GMT, but it is heading for a weekly rise of 1.1 percent. US gold futures for August delivery rose 0.1 percent to $4,094.10.

The precious metal is poised to record gains exceeding 2.2 percent this month. Gold rose 2 percent in spot trading on Wednesday after the Federal Reserve kept interest rates unchanged at its latest monetary policy meeting, and its chairman, Kevin Warsh, provided no clear indications regarding the central bank’s next move on monetary policy.