Gold Rises Near Record as Traders Wait for US Inflation Prints

Gold advanced as traders awaited US inflation data, rising back toward the record price reached on Tuesday after jobs figures that strengthened the case for interest-rate cuts.

Bullion gained 0.6% to approach $3,650 an ounce, after peaking above $3,674 on Tuesday when a preliminary revision showed that the number of workers on payrolls will likely be revised down by a record 911,000. The Federal Reserve is due to set monetary policy next week, following US producer and consumer inflation prints due on Wednesday and Thursday that will also shape the decision.

Geopolitical risk was also in focus. President Donald Trump ...