Gold gains for third straight session
Gold prices rose for the third consecutive session, reaching a high of over two months at $4,432.74 per ounce. Investors are closely watching U.S. inflation data, which will influence interest rate expectations. This increase is driven by fears of missing out on potential gains, short covering activities, and rising demand for safe-haven assets. There are also expectations that gold could break the $5,000 mark in the medium term if inflation continues to decline and prospects for interest rate hikes weaken. Additionally, upcoming Consumer Price Index and Producer Price Index data are expected to impact monetary policy directions, especially as FOMC rate hike expectations have eased following weak July employment figures.
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