RBA Hikes Interest Rate to 4.60% as Inflation Risks Rise 
Trump Eyes $54 Billion South Korean Investment in Alaska LNG 
Gold Plunges 4% as Treasury Yields Surge and Fed Rate Hike Bets Rise 
US Stocks Slip as Treasury Yields Ease, AI Trade Rebounds 
Gold Prices Slip as High Treasury Yields Weigh on Bullion 
Japan Factory Output Unexpectedly Falls 1.7% in August 
XRP Price Targets $1.70 as Bullish Momentum Builds 
Oil Prices Slide as Middle East Flows Recover 
BOJ Signals Faster Rate Hikes as Inflation Risks Grow 
U.S. Stock Futures Steady as AI, Rate Concerns Weigh 
US Alcohol Ban Exposes Canada’s Internal Trade Barriers 
U.S. Stock Futures Fall as Iran, Oil and AI Risks Rattle Markets 
BlackRock’s Rick Rieder Favors Bonds Over Stocks as Treasury Yields Surge 
Gold Holds Near Seven-Week Low as Fed Rate Hike Bets Rise 
Japan Warns Markets Over Yen Weakness 
Asian Stocks Fall as Oil Surge, Bond Yields and AI Concerns Hit Markets 
Add as a preferred source on Google
Gold prices extended their rally on Tuesday, climbing to their highest level in more than two months as strong investor demand, safe-haven buying and bullish momentum outweighed pressure from higher U.S. Treasury yields, a firmer dollar and rising energy prices.
At 20:41 ET (00:41 GMT), spot gold (XAU/USD) gained 0.4% to $4,408.34 an ounce, while U.S. gold futures advanced 1.1% to $4,466.70. Silver rose 0.2% to $65.84 an ounce, while platinum added 0.2% to $1,759.96.
The latest gold price rally follows Friday's 2.4% surge after U.S. nonfarm payroll data showed an unexpected decline in July. Gold continued higher on Monday, closing near $4,390, up 1.11% and marking its strongest daily finish in almost 10 weeks.
The precious metal's resilience has attracted attention because traditional headwinds, including stronger Treasury yields and the U.S. dollar, have failed to derail the advance. IG senior market analyst Tony Sycamore attributed the strength to renewed safe-haven demand, short covering and fear-of-missing-out buying among investors who did not participate when bullion fell toward $4,000.
Markets are now focused on Wednesday's U.S. Consumer Price Index and Thursday's Producer Price Index. Both inflation reports could influence expectations for the Federal Reserve's next interest rate decision. Higher rates typically pressure gold because bullion offers no interest income.
Chinese demand is providing additional support. The People's Bank of China increased its gold reserves in July by the largest amount since October 2023, highlighting continued central-bank appetite for the precious metal.
Geopolitical developments are also in focus as Iran and Oman work toward an agreement on new shipping routes through the Strait of Hormuz. Iran has indicated that additional U.S. conditions must be addressed before the strategic waterway can reopen.
Technically, gold's recovery from its June low of $3,942 puts the $4,460-$4,500 resistance area in focus. Sycamore expects that range to initially limit gains, but a sustained breakout could strengthen bullish momentum and potentially put the $5,000 level within reach.
