Gold heads for biggest monthly drop in more than 17 years - Reuters

<a href="https://news.google.com/rss/articles/CBMirwFBVV95cUxOdXJQMkZkZEFnekZ5cEo1c1djYzhTb0xvZ2hLdmZQNEJJS1VaLWJlNW9EeGxQU2VHd1pjTEJvSmg3YUllMUJ1TDRvTXRtODVzVnRITnpzaXM5bEpRdjdsMW5uSU41TUpLSGV4M2ppal95WW9PS1ZLLVU2aHV6ZWxzak5qem9OejBLZmhhMHpxMW5Gb0E4T29VdnZHOG5hckViWjNuY1BMZDhyQ09OOVBZ?oc=5" target="_blank">Gold heads for biggest monthly drop in more than 17 years</a>&nbsp;&nbsp;<font color="#6f6f6f">Reuters</font>

Gold prices rose on Tuesday on hopes of de-escalation in the Middle East conflict but were poised for their worst month in more than 17 years as higher energy prices dimmed hopes for a US interest rate cut this year.

Gold prices rose on Tuesday on hopes of de-escalation in the Middle East conflict but were poised for their worst month in more than 17 years as higher energy prices dimmed hopes for a US interest rate cut this year.

Gold prices fell approximately 17% from their peak, marking the worst monthly drop in years. The sell-off is driven by shifting Fed rate expectations, a strong dollar, and central bank signals.

Gold prices were slightly higher on Monday, helped by some tempering of rate hike expectations and fueled by a bout of bargain-hunting as the yellow metal heads for its biggest monthly drop in almost twenty years.

The Central Bank of Turkey sold 58 tons of gold worth over $8 billion in just two weeks, making it the single largest source of gold selling worldwide during that period.