Spot gold prices held above $2,500 per ounce on Tuesday as the market focused on upcoming U.S. Consumer Price Index (CPI) data.

On Monday, spot gold retreated from near-record high levels, driven by a stronger U.S. dollar and rising Treasury yields. Market participants reduced their expectations for significant monetary easing by the Federal Reserve.

On Monday, spot gold stayed near record highs while the dollar index fell to a 13-month low.

There are many reasons for the rise in gold prices.

On Friday, spot gold reached a new two-week high of $2,468.53 an ounce and is expected to record its biggest one-week gain since early April.

On the morning of August 1, the New York Mercantile Exchange gold futures contract price once broke through 2500 U.S. dollars / Sheng Division, reached 2502.8 U.S. dollars / ounce, a record high. The federal reserve hinted at the earliest September interest rate cuts, is one of the main reasons for the rise in international gold prices. On July 31, the federal reserve Yibu will federal funds rate target range unchanged at the level of 5.25%-5.5%, in line with market expectations.

Spot gold rose slightly on Friday, but is expected to record a decline this week.

On July 21st, current US President Biden announced his withdrawal from the 2024 presidential election. After the news of Biden's withdrawal was announced, there was no significant fluctuation in the market, and there was a strong wait-and-see sentiment.

On Tuesday, spot gold rose slightly, approaching its highest level since May 20th.

Latest retail sentiment and technical analysis on US crude oil, gold, and German DAX 40.

Recent retail trader data from IG shows significant optimism towards gold and silver.

On Monday, spot gold slightly weakened, and the market's focus was on more macro data from the United States this week, including key non farm payroll reports.

As of 9:13 GMT on Monday, spot gold rose 0.22% to $2,349.39 per troy ounce.

Builder sentiment remains unchanged as mortgage rates remain close to 7%.

On Tuesday, the three major U.S. stock indexes fell about 1%, and the 10-year yield of U.S. treasury bond bonds hit a four month high.

On Monday, spot gold prices surged to a historic high of $2,265.77 per ounce.

Spot gold prices hit 2,222 per ounce on Thursday.A record high of $91 after the dollar and Treasury yields slipped and the Fed hinted at three rate cuts before the end of the year。

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WTI crude futures rose as much as 3 percent in early Asian trading on Monday after the escalation of the Israeli-Palestinian conflict.1%, rising above $85。Spot gold up nearly 1% at $1,849 an ounce。