Gold rises 1.4 percent but monthly losses hit 13 percent
Gold rose to $4,572 on Tuesday but is set for its worst month since 2008. High interest rates and Middle East conflict remain key pressures on the market.
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Gold prices advanced more than 1% on Tuesday, yet the metal remains on track for its steepest monthly decline since October 2008. Persistent inflation worries and expectations of higher interest rates, driven by the ongoing conflict involving Iran, have weighed heavily on the non-yielding asset. Spot gold rose 1.4% to $4,572.89 per ounce, while United States gold futures gained 0.7% to reach $4,588.
