Gold Stays Near Two-Month High as Equities Drop and Oil Rises

Gold and silver prices edged modestly higher in late U.S. trading Tuesday amid safe-haven buying linked to tensions in the Strait of Hormuz, even as the dollar strengthened. Spot gold hovered near $4,412.50 an ounce, gaining 0.56%, while silver reached $65.680, up 0.13%. Traders await key inflation reports, with September Fed rate-cut odds now seen as uncertain. North American benchmarks finished lower: the S&P 500 slipped 0.3% to 7,728.20, the Dow Jones fell 0.3% to 53,791.85 and the Nasdaq dropped 0.6% to 26,445.45. European shares were mixed, with the Stoxx 600 rising 0.05%. Brent crude settled at $88.91 a barrel, up 1.4%, and WTI at $83.20, up 1.3%, adding inflation concerns that favor gold. Technically, gold bulls target a break above $4,360–$4,380 toward $4,480–$4,500. Silver resistance lies at $66.51, aiming for $71.26. Support for gold sits at $4,350 and for silver at $64.00.