Gold surges past $4,400 due to these factors

Gold prices have risen significantly for the third consecutive time, reaching their highest level in over two months at approximately $4,433 per ounce. Investors are closely watching the upcoming US inflation report scheduled for tomorrow, aiming to determine the direction of interest rate policies. This increase is attributed to concerns about missing out after prices dropped to $4,000, as well as short covering and renewed flows into safe-haven assets. Markets expect that the consumer price index and producer price data will influence monetary policies, with lowered expectations for interest rate hikes due to weak employment data released in July.

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