Gold Recorded Its Strongest Monthly Rise in 7 Months - Dünya Gazeti
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Gold posted a strong rise in August after months of volatile ride. Ounces of gold gained 10 percent to $4,449 as expectations for the Fed to raise interest rates weakened, making it the fastest monthly increase in seven months. Silver, on the other hand, rose 15.4 percent to $66.5.
Precious metals brought smiles to investors' faces in August. Gold rose 10% and silver increased by 15.4%, marking their strongest monthly performance in seven months.
Gold, which rose 10 percent in August to reach $4,449 per ounce, recorded its strongest monthly performance in the last 7 months, driven by Fed expectations and bond transactions.
Increased long-term bond repurchases by the US Treasury and weakening expectations of a Fed interest rate hike supported precious metals. Gold gained 10% in August, rising to $4,449 per ounce, while silver saw a monthly increase of 15.4%.
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