Gold rose above $2,660 an ounce on Tuesday, rising for a second straight session, supported by a shift in Chinese policy and geopolitical risks in the Middle East.
China's ruling Politburo on Monday announced plans to ease monetary policy for the first time in 14 years to stimulate the economy, boosting market sentiment across commodities.
In addition, China's central bank added gold to its reserves for the first time in seven months, bolstering demand for the precious metal. Geopolitical tensions in the Middle East, particularly the fall of the Syrian government, also added further support as investors sought safe-haven assets.
Market focus now turns to the U.S. inflation report later this week, which could influence the Federal Reserve's monetary policy outlook.
Source: Trading Economics
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