Gold hits 2-month high above $4,400 ahead of US inflation
Gold just hit its highest price in two months, climbing above $4,400 per ounce.
The buzz is all about the upcoming US inflation data due Wednesday, which has traders on edge.
Gold's 3.6% rise over the last two sessions kicked off after it broke a key technical level, making it a hot pick lately.
ETF inflows reinforce gold safe haven
A big part of this spike comes from investors piling into gold-backed ETFs, especially in China, as people look for safer bets amid economic uncertainty.
Dip buyers are also jumping in while other metals like silver and platinum are seeing smaller gains.
With US inflation expected to tick up slightly and talk of possible interest rate hikes, analysts say gold's staying power, even as oil prices and the dollar rise, shows it's still a go-to safe haven right now.