Gold prices rose on Wednesday, climbing 0.6% to $3,363.61 per ounce, as investors increasingly bet on a Federal Reserve interest rate cut in September.
The rally was driven by mild inflation data and a weakening dollar, which made gold more affordable for international buyers.
Markets are now pricing in a 96% chance of a rate cut next month, with gold benefiting as a traditional safe-haven asset that performs well in low-interest environments.