PRECIOUS-Gold eases from over two-month peak, inflation reports in focus
GLD•Geopolitical comments and other metals
On the geopolitical front, U.S. President Donald Trump responded to Iran's conditions for a peace deal with his own demands that Iran pay compensation for people killed in wars, attacks and protests, in a rhetorical escalation likely to complicate efforts to reopen the Strait of Hormuz.
Among other metals, spot silver (XAG=) fell 1.9% to $64.49, platinum (XPT=) lost 0.5% to $1,744.25 and palladium (XPD=) declined 0.7% to $1,373.09.
Gold slips after hitting highest level since June 5
Spot gold scaled its highest level since June 5 earlier in the session before easing on Tuesday as investors awaited upcoming U.S. inflation data for clues on the interest-rate outlook.
Spot gold (XAU=) was down 0.5% to $4,365.65 per ounce by 0726 GMT, after hitting $4,434.84 earlier in the session. U.S. gold futures (GCcv1) steadied at $4,424.90.
Inflation data and Fed expectations remain in focus
The U.S. consumer price report due on Wednesday and producer price data on Thursday are likely to shape monetary policy expectations after weak July U.S. jobs data last week led markets to scale back bets that the Federal Reserve would raise rates next month.
At its July meeting, the Federal Reserve kept rates steady, with three officials dissenting in favor of a hike.
Lower interest rates tend to support gold as bullion pays no interest.
