Gold Touches $4,400 as Traders Turn Focus to US Inflation Data

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world Gold advanced to a two-month high above $4,400 an ounce ahead of a key US inflation report that could provide fresh clues to the Federal Reserve’s appetite for an interest-rate hike. Bullion rose as much as 0.7% on Tuesday, after adding 3.6% over the previous two sessions. Technical buying was spurred by the metal’s ascent through the 100-day moving average on Monday, another sign of recovery after the emergence of dip-buyers in recent weeks and greater inflows from gold-backed exchange-traded funds in China.

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