According to FedWatch tool, markets are currently pricing in a 63% probability of an interest rate hike in September.
Gold prices declined on Friday as investors took profits and the US dollar strengthened, though the precious metal remains on track to post its first monthly gain in five months. 
The US dollar index, which measures the greenback against a basket of six major currencies, rose 0.35% to 100.23 after plunging 2.4% on Thursday, its steepest one-day decline since January 2023.
According to CME Group’s FedWatch tool, markets are currently pricing in a 63% probability of an interest rate hike in September, Reuters reported.
Precious Metals Prices – Futures and Spot Markets
Metal
Price ($/Oz)
Change ($)
Change (%)
Gold (October Futures)
4,108.2
(21.2)
(0.55%)
Spot Gold
4,077.91
(25.50)
(0.60%)
Silver (September Futures)
58.83
(0.19)
(0.30%)
Spot Silver
58.53
(0.46)
(0.80%)
Spot Platinum
1,637.24
(23.75)
(1.45%)
Spot Palladium
1,301.26
(17.09)
(1.30%)
According to FedWatch tool, markets are currently pricing in a 63% probability of an interest rate hike in September.
Gold prices declined on Friday as investors took profits and the US dollar strengthened, though the precious metal remains on track to post its first monthly gain in five months.
The US dollar index, which measures the greenback against a basket of six major currencies, rose 0.35% to 100.23 after plunging 2.4% on Thursday, its steepest one-day decline since January 2023.
According to CME Group’s FedWatch tool, markets are currently pricing in a 63% probability of an interest rate hike in September, Reuters reported.
Precious Metals Prices – Futures and Spot Markets
Metal
Price ($/Oz)
Change ($)
Change (%)
Gold (October Futures)
4,108.2
(21.2)
(0.55%)
Spot Gold
4,077.91
(25.50)
(0.60%)
Silver (September Futures)
58.83
(0.19)
(0.30%)
Spot Silver
58.53
(0.46)
(0.80%)
Spot Platinum
1,637.24
(23.75)
(1.45%)
Spot Palladium
1,301.26
(17.09)
(1.30%)
