Gold prices are heading for their first monthly increase in five months, as investors focus on the situation in the Middle East

According to Jinshi reports, gold prices fell on Friday, but as investors closely monitor the developments in the Middle East, gold prices are heading towards their first monthly increase in five months.

Sukdun financial analysts stated that due to the weakening of the dollar following the release of weak GDP data, precious metal prices rebounded, but given the lack of a significant decline in U.S. Treasury yields, this trend is not entirely convincing.

At the same time, the Federal Reserve kept interest rates unchanged at the July meeting, and Chairman Waller provided little clear guidance on the bank's next policy moves.