Monthly Commodities Fundamental Report – July, 2023

Gold: After a 1 percent pullback in the previous month, the yellow metal continued the weakness in the following month, concluding with a cut of nearly 3 percent. Gold prices experienced a combination of gains and losses throughout the month. At the beginning of the month, the metal showed modest gains, recovering from a two-month low as the dollar weakened and concerns surrounding US debt ceiling negotiations heightened, leading to increased demand for gold as a safe-haven asset.