Gold rises 2 percent but faces second monthly decline
Spot gold rose to 4,639.26 dollars as a weaker dollar supported the metal. However, inflation concerns keep prices on track for a second monthly decline.
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Gold rose 2.2% to $4,639.26 on Thursday morning as a weaker dollar and easing energy costs spurred buying. Despite the daily gain, the metal fell 0.7% in April, marking its second consecutive monthly decline. Persistent inflation and geopolitical tension in Iran continue to cloud the timing of global interest rate cuts.
