Gold futures break three-day losing streak ahead of August inflation data
Gold futures ended a three-day losing streak as a weaker U.S. dollar supported bullion. The dollar index fell to its lowest level since early May, while platinum futures rose as investors rotated into precious metals.
S. dollar outweighed broader inflation concerns. The dollar index fell to its lowest since early May as the Japanese yen strengthened, helping support bullion. Platinum futures also climbed as investors moved into the wider precious-metals complex.
With the Federal Reserve's Sept. 15-16 meeting approaching, markets are focused on August CPI and PPI data; the CME FedWatch Tool shows a 60% probability of a 25 bps rate hike.