COMEX gold continues to accelerate gains near record high levels on Tuesday morning in Asia amid rising expectations of a September Federal rate cut that is pushing down the dollar. The dollar index is seen edging lower since Friday's weak US jobs report and is linger under 98 mark. Investors are now awaiting the US PPI and CPI data, due later this week, which could provide further guidance on the Fed's next steps. Meanwhile, the yellow metal is currently quoting at fresh lifetime highs of $3687.60 an ounce, up 0.28% on the day after having surged around 40% so far this year on strong central bank purchases, dovish monetary settings, and heightened global uncertainty. China's central bank reportedly continues to add Gold to its reserves for a tenth straight month in August.

Powered by Commodity Insights