Gold rose for a third straight session on Tuesday to hit a more than two-month high, while market participants focused on upcoming inflation data for signals on the U.S. interest-rate outlook.FUNDAMENTALSSpot gold was up 0.5% at $4,411.77 per ounce, as of 0030 GMT, its highest level since June 5. U.S. gold futures rose 1.2% to $4,472.10.Weak July job market data on Friday drove financial markets to downgrade what had been strong expectations that the U.S. central bank will raise rates next month.Data showed the U.S. economy lost 23,000 jobs in July, amid a modest decline in the unemployment rate to 4.1% from June's 4.2%.Lower rates boost bullion's appeal as it yields no interest.At its July meeting, the Federal Reserve kept rates steady, with three officials dissenting in favor of a rate hike.The U.S. consumer price data is due on Wednesday and producer price data on Thursday.U.S. President Donald Trump responded to Iran's conditions for a peace deal with his own demands that Iran pay compensation for people killed in wars, attacks and protests, in a rhetorical escalation likely to complicate efforts to reopen the Strait of Hormuz.Elsewhere, Barrick Mining reported a rise in second-quarter profit, buoyed by higher bullion prices.Among other metals, spot silver rose 0.6% to $66.16 per ounce, platinum gained 0.6% to $1,763.60 and palladium added 0.6% to $1,391.21. DATA/EVENTS (GMT) 1400 US Existing Home Sales Jul
Gold rises for third straight session, inflation prints in focus
Gold has reached its highest point in two months, driven by traders evaluating significant upcoming U.S. inflation data that may influence interest rate decisions. Lacking favorable job growth numbers has diminished prospects for a Federal Reserve increase, propelling interest toward non-yielding gold.
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