Gold futures prices rise 0.2% to $2,513.8, nearing the record...

Gold futures prices rise 0.2% to $2,513.8, nearing the record $2,537.7 reached in July. Tuesday's U.S. Producer Price Index numbers came in lower than expected, leading to a drop in Treasury yields and a weaker dollar, though the effect on gold was subdued as the market opted to hold off buying until the release of Consumer Price Index figures on Wednesday. If the CPI figures confirm a slowdown in inflation, a more pronounced response from gold traders is likely given it will raise expectations for a 50 basis point Federal Reserve interest rate cut in September. This momentum could even propel gold to a new historical high, with additional safe-haven support coming from escalating Middle East geopolitical tensions.