Gold futures bounce to 11-week high amid steady central bank demand.

Bob Iaccino of Path Trading Partners breaks down the recent price action in Gold futures. After an early sell-off, prices rebounded to close positive, reaching their highest level in 11 weeks. The commentary highlights shifting expectations for a September rate hike, with probabilities falling below 40% following recent inflation data. Additionally, consistent demand from central banks continues to provide fundamental market support, as Q2 saw a net addition of 289 metric tons to global reserves, led by steady purchases from China and renewed interest from South Korea.