July gold up over 2.2% 1st monthly gain since February
Business
After months in the red, gold is set to notch its first monthly gain since February, up over 2.2% in July 2026.
Even though spot prices dipped slightly on Friday, demand for gold has picked up as people look for safer places to park their money during uncertain times.
US Fed pause, Damietta drone strike
The US Federal Reserve decided not to hike interest rates, which usually makes gold more attractive since it doesn't pay any interest itself.
Plus, tensions in West Asia, like a recent drone strike at Egypt's Damietta port, have investors worried about global trade routes and turning to gold as a safe bet.