Gold gains for third session, inflation reports in focus
Gold rose for a third straight session on Tuesday to its highest in more than two months, while investors focused on upcoming inflation data for clues on the US interest-rate outlook. Spot gold climbed 1% to $4,432.74 per ounce by 0217 GMT, hitting its highest level since June 5. U.S. gold futures rose 1.7% to $4,492.60. The move “is being driven by a degree of FOMO (fear of missing out) from those who missed the dip to $4,000, some short-covering from speculative accounts, and a return of safe-haven flows,” IG market analyst Tony Sycamore said.