WASHINGTON (dpa-AFX) - Gold scaled a record peak on Tuesday, buoyed by a weaker U.S. dollar and a dip in bond yields.
Spot gold rose half a percent to $3,655.68 per ounce in European trade, while U.S. gold futures were up 0.4 percent at $3,692.42.
The dollar sank to an almost seven-week low and Treasuries were steady, with the two-year yield trading at its lowest since 2022 as investors braced for U.S. data revisions that could point to a worse-than-expected jobs market and shore up the case for jumbo Federal Reserve interest rate cuts.
Traders also await reports on U.S. consumer and producer inflation this week to see whether the Federal Reserve will deliver an outsized 50 bps rate cut next week.
The reports on producer price inflation and consumer price inflation are due on Wednesday and Thursday, respectively.
Economists expect the annual rate of producer price growth in August to come in unchanged from July at 3.3 percent, while the annual rate of consumer price growth is expected to accelerate to 2.9 percent from 2.7 percent in July.
The annual rate of core consumer price growth, which exclude food and energy prices, is expected to hold at 3.1 percent.
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