Market Outlook- Gold rose to a one-week high!

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Gold rose to a one-week high on Tuesday, as the dollar held below three-year highs and Chinese inflation data boosted the metal’s appeal as a hedge against rising prices in the world’s second-biggest buyer of the metal. Silver was up 0.6 percent to $19.15 an ounce. Platinum was unchanged at $1,358.99 an ounce and palladium fell 0.2 percent to $693.97 an ounce. Data on Tuesday showed China’s annual consumer inflation accelerated more than expected in June.

RR Financial Consultants‘s insight:

Today’s Key Headlines

1)      WTI Crude Trades Near 14-Month High before U.S. Inventory Data

2)      Gold in Japan ETF Expands 10% as Price Drop Entices Buyers

3)      Tanker Demolitions Slumping as Rupee Reaches Record Low: Freight

4)      China Starts Spot Iron Ore Platform in Rizhao to Boost Trade

5)      Japan Seeks to Buy Alternatives to Oregon Wheat in Tender

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