Commodities
Gold Surges to $4,677.19 Amid Inflation Concerns
Gold prices edged higher on Tuesday as investors focused on US inflation data and awaited Federal Reserve Chair Kevin Warsh's speech at the Jackson Hole Symposium later this week.
The precious metal touched $4,677.19 an ounce earlier in the session, its highest level since mid-May, according to UOB, which also noted that gold is on track for its strongest monthly gain since September 1999, as reported by CNBC.
TD Securities analysts stated that concerns about a weaker dollar could provide strong support for gold in the coming weeks, given the Federal Reserve's lack of clear indication regarding interest rate hikes.