Gold on track to end four-month slump as investors weigh Fed signals
GLD•Upcoming data and events
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Geopolitics, inflation data and other precious metals
* A drone 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.
* U.S. inflation slowed in June, with the Personal Consumption Expenditures Price Index slipping 0.1% on a month-over-month basis, the weakest reading since April 2020, but the easing is likely to be temporary as renewed hostilities in the Middle East raise oil prices.
* Global gold demand was steady year-on-year at 1,268.9 metric tons in the second quarter of 2026 as central banks sped up purchases, offsetting a slump in investment, the World Gold Council said on Thursday.
* Spot silver XAG= held steady at $58.98 per ounce, platinum XPT= slid 1.3% to $1,638.97, and palladium XPD= fell 0.2% to $1,301.94.
Gold heads for monthly gain as investors weigh Fed signals
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 and parsed the Federal Reserve's signals for clues on inflation and the path for interest rates.
* Spot gold XAU= inched 0.2% lower at $4,096.29 per ounce, as of 0107 GMT, but was headed for a weekly rise of 1.1%. U.S. gold futures GCcv1 for August delivery gained 0.1% to $4,094.10.
