by Yvonne Yue Li and Jack Wittels
BNN Bloomberg
(Bloomberg) — Gold rose, closing in on a record again as traders assessed geopolitical developments while awaiting key U.S. economic data due later this week that may help determine the Federal Reserve’s interest-rate path.
Bullion was up by as much as 1.6% to $2,471 an ounce, in touching distance of last month’s all-time high of $2,483.73. Traders continued to monitor Iran’s response to last month’s assassination of a Hamas leader in Tehran.
Investors are also preparing for U.S. producer price index figures on Tuesday and consumer price index numbers on Wednesday. Both will shed light on inflation in the world’s largest economy.