CWG MarketsThe US dollar rose on Monday Gold prices rose as the best monthly performance in the past four months

CWG MarketsThe US dollar rose on Monday Gold prices rose as the best monthly performance in the past four months

The US dollar rose on Monday as a survey by the Federal Reserve showed that US banks reported tightening credit standards and weakened loan demand in the second quarter, indicating that rising interest rates are having an impact on the economy. Gold prices have risen, setting their best monthly performance in four months, helped by expectations that major central banks around the world are nearing the end of their interest rate hikes.

Gold prices rose as the best monthly performance in the past four months, helped by expectations of a weaker US dollar and the near end of interest rate hikes by major global central banks.

At the same time, the U.S. Dollar Index fell for the second month in a row. Recent data show that inflation in the United States is showing signs of cooling, which makes people increasingly expect the Federal Reserve to be closer to ending the fastest round of interest rate increase cycle since the 1980s.