Commodities
Gold Soars to Three-Month High Ahead of US Inflation Data
Gold prices surged on Monday to their highest level in over three months as investors awaited US inflation data and Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole symposium.
The spot price of gold rose 0.7% to $4,636.34 per ounce, its highest since May 15, while U.S. gold futures climbed 0.3% to $4,694.80.
Gold's gains are attributed in part to the US Treasury's buyback support plan, which has weakened the dollar and made bullion more affordable for holders of other currencies.