Gold: XAU Advances for Second Straight Session.

Gold climbed toward $4,600 an ounce on Tuesday, building on the previous session’s gains as hopes grew that the US and Iran may return to negotiations, helping ease some inflation concerns. President Donald Trump said he suspended a planned strike on Iran scheduled for Tuesday after appeals from Saudi Arabia, Qatar, and the UAE, saying the Gulf nations believed a deal with Tehran that satisfies Washington was still achievable. Gold had faced pressure since the outbreak of the Middle East conflict, as surging oil prices intensified inflation fears and strengthened expectations for further central bank interest rate hikes. Rising US inflation has also prompted traders to scale back expectations for Federal Reserve rate cuts this year, while increasing speculation that the Fed could even raise rates before year-end. Investors are now awaiting the latest FOMC minutes and flash US PMI readings for further signals on the outlook for monetary policy and economic conditions.