Gold recovers from two-week low ahead of US inflation figures

Gold rose on Tuesday after hitting a two-week low ‌earlier in the session, as markets awaited key U.S. inflation data, with escalating U.S.-Iran tensions driving oil prices higher and reinforcing expectations of further Federal Reserve rate hikes.
 
Spot gold was up 0.5% at $4,021.62 ​per ounce by 0440 GMT, recovering from its lowest level since July ​1. U.S. gold futures for August delivery gained 0.6% at $4,028.

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